Bain Shuts Scandal-Tainted South African Consulting Business

Bain & Co.is closing down its consultancy business in Johannesburg, likely bringing to an end a years-long battle to try and restore its reputation in Africa’s biggest economy following a 2022 ban.

“We are winding down consulting operations in South Africa,” Bain said in a response to a query on Tuesday. “In May, we informed our local teams that our Johannesburg office will become a services hub supporting Bain’s global operations.”

South Africa’s National Treasury accused the Boston-based firm of engaging in “corrupt and fraudulent practices” related to a contract with the country’s tax agency and banned it from ...