Eskom Recovered 30 Million Rands That Was Illegally Paid Out to Their Former CEO Brian Molefe’s Pension Fund
- The state power utility has recovered R30 million from unlawfully paid out to former CEO Brian Molefe
- The disgraced CEO had to reimburse Eskom R10 million rand following the North Gauteng High Court ruling
- Molefe was accused of giving the coal supply contract to Duduzane Zuma and aiding him to buy Optimum coal
Source: Getty Images
Electricity company Eskom announced it has recovered R30 million rand illegally paid to former CEO Brian Molefe's pension fund in 2016.
This follows a decision by the North Gauteng High Court in July, which ruled that Molefe had to repay part of the pension already paid out to him of about rand R10 million, and the remainder was paid out by the pension fund.
According to Tech Central, Bloomberg News reported that Molefe, who joined Eskom in April 2015, was accused of favouring the Gupta family by handing a coal supply contract to President Jacob Zuma's son, Duduzane Zuma, and helping him to buy Optimum Coal.
"In July 2022, the North Gauteng high court reaffirmed a 2018 high court judgment that had reviewed and set aside a 2016 early retirement agreement between Mr Molefe and Eskom,”
As part of the agreement, Eskom paid around R30 million to the EPPF to increase Mr Molefe's early retirement payment, said Eskom.
News24 reported that Molefe was arrested last week in a corruption and fraud case involving millions of rands in connection with the 2015 purchase of 1,064 locomotives for Transnet and was released R50 000 bail.
Former Transnet CEO Brian Molefe says he is too poor to afford R50 000 bail, had to ask relatives for help
On related subjects, Briefly News reported that 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.
Source: Briefly News
