Top Menu

Molefe’s R30m payout not adding up

Brian Molefe discusses Eskom's financial results

Brian Molefe. Photo: Raymond Preston, Sunday Times.

Former Eskom CEO Brian Molefe received a R30 million payout from the power utility in March, the Sunday Times has reported.

However, when asked about Molefe’s payout, Public Enterprises Minister Lynne Brown said she had no knowledge of the payment as it was an “operational issue”.

“I am not aware that Eskom has paid Brian any severance package, but, then again, those are operational matters managed by the board — it is only brought to my attention if it is unusual,” she told the newspaper.

The payout has been described as a pension payout, however this is not yet clear.

The newspaper spoke to someone familiar with the payment, who said Molefe would have had to earn R243 million a year to warrant that sort of pension payout, however, while employed at Eskom, he earned R8 million a year.

LabourNet industrial relations expert Juanne van Vuuren told the newspaper that this payment looked like a mutual settlement agreement between Eskom and Molefe that was reached before he resigned.

Molefe resigned from the power utility after being implicated in former public protector Thuli Madonsela’s State of Capture report regarding the controversial Tegeta-Optimum coal mine deal involving the Gupta family.

Eskom spokesman Khulu Phasiwe said Molefe’s payment will be reflected in Eskom’s annual report.

News of Molefe’s payout has riled political parties, with the Democratic Alliance (DA) calling it to be investigated by Public Protector Busisiwe Mkhwebane.

When asked for comment by the newspaper, Molefe said he was paid what was due to him.

, , ,

Comments are closed.