Transnet says McKinsey owes it R1.2bn

State-owned freight utility Transnet has confirmed that no final settlement has been reached with US-based consultancy McKinsey, but says the consultancy owes it more than R1.2-billion. Transnet and McKinsey had discussions up until December 9, with the main point of dispute being the repayment of substantial interest earned on McKinsey’s fees.

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