Wait and see says Eskom about alleged R30m payout to Molefe

Cape Town - South African taxpayers would have to wait until about June to find out how much former Eskom CEO Brian Molefe was paid when resigned in November last year after 18 months at the helm.

Despite maintaining no foul play, Molefe resigned from Eskom after being named in the State of Capture report by former public protector Thuli Madonsela.  

Now it is alleged that Molefe received a R30.1m "golden handshake" from Eskom last month, the Sunday Times reported on Sunday. The newspaper claims to have seen documents mentioning this amount listed under “separation/severance cost” and “Eskom pension fund” payment.

Molefe earned about R8m a year as Eskom boss and was also allocated shares.

READ: Madonsela: Molefe can clear his name

Eskom board spokesperson Khulani Qoma told Fin24 that whatever Molefe received was due to him. Qoma emphasised that whatever was due to Molefe, was paid at the end of last year. He has not received anything this year.

"In terms of governance we have to follow a stipulated protocol. That is why we cannot make any information known ahead of the release of the annual reports," Qoma told Fin24 on Sunday.

"We maintain that there is nothing untoward in what Molefe has received. Whatever he has received was due to him and appropriate in terms of the Labour Relations Act."

Qoma said whatever any of the Eskom directors received, including Molefe, will be available in the audited results due out in June.

A spokesperson for Eskom also told Fin24 on Sunday that all executive remuneration is reported in its integrated report, and as such Molefe’s remuneration will be reported in the 2016/17 integrated report, which will be released later on in the year.

Colin Cruywagen, spokesperson for Public Enterprises Minister Lynne Brown, told Fin24 on Sunday that he wants to repeat what the minister has already said, namely that she is not aware of any severance package paid out to Molefe.

"It is an Eskom operational matter managed by the Eskom board. As the minister said, it will only be brought to her attention if it is something unusual," said Cruywagen.

"So, the fact that it was not brought to her attention indicates that there was nothing unusual." 

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
15.83
-0.5%
Rand - Pound
19.89
-0.3%
Rand - Euro
16.89
-0.3%
Rand - Aus dollar
11.21
-0.1%
Rand - Yen
0.12
-0.7%
Gold
1,855.86
+0.1%
Silver
21.75
-0.2%
Palladium
2,007.00
+0.4%
Platinum
953.50
-0.6%
Brent Crude
113.42
+0.8%
Top 40
61,788
0.0%
All Share
68,367
0.0%
Resource 10
74,616
0.0%
Industrial 25
73,018
0.0%
Financial 15
15,916
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot