BCG has admitted it paid millions of dollars in bribes to win business in Angola, and agreed to give up more than $14mn in profits from contracts it won with the country’s economy ministry and central bank.

The consulting firm sent money to offshore accounts controlled by middlemen connected to Angolan officials and members of the ruling political party, according to a US Department of Justice investigation made public on Wednesday.

The bribes were paid by BCG through its office in Lisbon, Portugal, between about 2011 and 2017, the DoJ said. Despite finding evidence that the activities breached the US Foreign Corrupt Practices Act, the DoJ said it would not be prosecuting BCG because the firm reported the matter itself, fired the individuals involved and co-operated with the inquiry.