Former Transnet CEO Brian Molefe Says He is Too Poor to Afford R50 000 Bail, Had to Ask Relatives for Help

• Former Transnet group CEO Brian Molefe told the court that R50 000 bail is too much following his arrest
• Molefe asked the court to grant him R20 00 bail because he is a pensioner and has a lot of expenses
• South Africans were upset to learn that Molefe was pleading poverty and said maybe he should consider downgrading

JOHANNESBURG - Brian Molefe, former Transnet group CEO, pleaded poverty during his bail hearing after being arrested for corruption at Transnet. Molefe and his co-accused were each released on a R50 000 bail at the Palm Ridge Magistrate's Court in Johannesburg.

Molefe was a high earner when he headed Eskom and took home a whopping R18.2 million in the two years he worked there. And in the two years he worked at Transnet, Molefe took home R12.4 million.

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During his bail hearing, Molefe's attorney told the court that he had to put together the R50 000 bail money by borrowing money from family members, however, he fell short and could only raise R20 000, according to the SundayTimes.

Molefe is now a self-employed pensioner and gets R52 000 from his pension fund and R12 000 from MKB Logistics, where he is a director. Molefe also outlined his monthly expenses and stated that he spends R12 750 for his minor children and R11 518 on electricity. He also pays medical aid expenses for his four children.

Molefe also told the court that he pays R10 000 per month for an outstanding debt of R420 000 and he was handed a judgement to pay R5 million in costs for another matter, adding that he intends to appeal the ruling.

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According to News24, Molefe was arrested alongside the former Transnet finance chief, Anoj Singh, for corruption related to the purchasing of 1 064 locomotives amounting to R93 million.

South Africans weigh in

@AlphyzaAli said:

"R64k a month's that's a lot, try R350 now that's something else."

@OwenChipen said:

"It's not poverty. Some make R200,000 a month but still, they struggle in life. Others, with R20,000 a month they live a heaven life. It's how you manage your finances. #wednesdaythought #BrianMolefe"

@trankatizcki said:

"Le a pota lona..R64k is more than my annual salary. How dare you call that "poverty"?"

@SirGerZA said:

"Shame Molefe... I think most people in the country don't even earn that much in a year..."

@Ngubenil said:

"R64k monthly ain’t bad at all. Wonder if he is thinking of moving out of the house that demands R11k for electricity?"

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Transnet former execs Brian Molefe and Anoj Singh granted bail of R50k, SA unimpressed: "That’s small change"

Former Eskom CEO Brian Molefe ordered to Pay R10m to power utility’s pension fund

Briefly News previously reported that Eskom’s former CEO Brian Molefe has been ordered to pay almost R10 million to the power utility’s pension fund following a long-winded legal battle.

The North Gauteng High Court ruled that he will also have to cough up interest on the R9 985 540 that was calculated from 31 October 2019 until he makes payment.

Molefe has been owing the money for the past four years and claimed he did not know how much he was required to pay.

Source: Briefly News