Eskom Wins Order to Force Its Former CEO Brian Molefe to Pay Back Pension Monies, SA Welcomes Ruling

• Eskom is allowed to enforce an order to recover millions from the utility’s former CEO Brian Molefe
• He will have to pay the difference between the pension benefits paid to him and the lump sum pension benefits
• The benefits were created from a payment of about R30.1 million made by Eskom to the Eskom pension fund

JOHANNESBURG - Eskom can enforce an order to recover millions from its former CEO Brian Molefe. He owes the money to the power utility’s Pension and Provident Fund (EPPF).

The details were disclosed during Eskom’s briefing to Parliament’s Standing Committee on Public Accounts (Scopa) on Wednesday, 19 October.

Eskom group executive for legal and compliance Mel Govender said Molefe applied for leave to appeal, which was dismissed, News24 reported. Molefe will have to pay the difference between his pension benefits and the lump sum pension benefits.

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Govender said Molefe would have to calculate the difference in the amounts and pay within 10 days after the calculation is received.

According to BusinessLIVE, Molefe resigned as Eskom CEO in November 2016 and was employed on a fixed-term contract. He, therefore, did not qualify to participate in the Eskom pension fund.

The benefits were created from a payment of about R30.1 million made by Eskom to the Eskom pension fund.

Citizens react to Eskom’s order:

@veendlovu85 said:

“Eskom really needs that money.”

@Capt501stRex commented:

“Good all State Capture beneficiaries must get the same treatment.”

@JasperBongi posted:

“The noose is tightening. South Africa is winning.”

@Lindsay1509 wrote:

“South African citizens are willing to turn him upside down and shake out his pockets to ensure he pays up.”

@Callme_Khaya added:

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“Brian and Co deserve everything they are getting right now; I wish Cyril’s led government can arrest more of these crooks.”

Molefe and the ex-Transnet gang back in court for case involving over 50 counts of corruption and fraud

In a related matter, Briefly News also reported former top brass from South African railway company Transnet are due to appear in the Palm Ridge specialised commercial crimes court on Friday, 14 October.

Ex-Transnet CEOs Brian Molefe and Siyabonga Gama will appear in the dock alongside former CFO Anoj Singh, ex-CFO Garry Pita and former group treasurer Phetolo Ramosebudi.

Regiments Capital directors Niven Pillay and Litha Nyhonyha are also expected to be in court along with other former Regiments Capital employees in a state-capture-linked case involving over 50 counts of corruption and fraud, TimesLIVE reported.

Source: Briefly News