Brian Molefe, Former Eskom CEO, Still Owes Pension and Provident Fund R10 Million

• Disgraced CEO Brian Molefe was ordered by the North Gauteng High Court to pay back R10 million received from Eskom's pension and providence fund
• Molefe has not reimbursed the money, but Eskom announced that it had recovered R30 million from the pension fund
• The pension and providence fund claimed it repaid the money for the benefit of its members even though Molefe had not played its part

JOHANNESBURG- Former Transnet and Eskom CEO Brian Molefe has not paid back the money he owes to the State-owned power utilities pension fund.

In 2016, R30 million was unlawfully put into Molefe's pension and provident fund. Molefe resigned from the utility later that year and retired early.

EWN reported that the Democratic Alliance and the trade union solidarity opened a case in court. In 2018, the North Gauteng High Court ordered Molefe to repay the funds spent on his pension.

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On Wednesday, 7 September, Eskom confirmed that it has entirely recovered the funds illegally given to Molefe.

According to fin24, the pension and provident fund acknowledged that the R30 million had been reimbursed, but Molefe had not remitted the R10 million owed to the fund.

Pension and provident fund CEO Shafeeq Abrahams released a statement saying that even though Molefe had not paid his portion, the funds were reimbursed in the best interest of the pension funds members.

South Africans react to Brian Molefe's outstanding debt to the pension and provident fund

South Africans are sceptical that Molefe will ever pay back the money owed.

@DavidMurray117 speculated:

"He's already shifted much offshore, no doubt."

@Tunedagain said:

"This Molefe should have been legally pursued or sequestrated for holding out on a court order."

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Anthony Schlemmer commented:

"Molefe is just the tip of the iceberg."

Jan Machaba added:

"He must go to prison."

Lorraine Duncan posted:

"Of course he won’t "

Former Transnet CEO Brian Molefe says he is too poor to afford R50 000 bail, had to ask relatives for help

In a related matter, 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.

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.

Source: Briefly News