for subscribers

No raise on top of Eskom boss Brian Molefe's R9.4m salary

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town – Eskom CEO Brian Molefe, who received a total salary package of R9.467m in the 2015/16 financial year, will not be getting a salary increase in the next year, the power utility’s spokesperson Khulu Phasiwe said.

Speaking to Fin24 by phone, Phasiwe said Eskom employees’ salaries are determined by a remuneration committee which then makes recommendations to Public Enterprises Minister Lynne Brown. “But Eskom’s executive committee will not be receiving any salary increases,” he stressed.

In Eskom’s annual report of 2015/16, it was stated that Molefe, who joined the power utility in an acting position in April 2015, earned R6.973m since his appointment up until the end of the financial year on March 31 2016. For the period Molefe also received a short-term bonus payment of R2.469m, which brings his total annual remuneration package to R9.467m. 

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.63
(-0.14)
ZAR/GBP
23.01
(-0.05)
ZAR/EUR
20.78
(-0.04)
ZAR/AUD
12.62
(-0.03)
ZAR/JPY
0.17
(-0.02)
Gold
2034.21
(+0.05)
Silver
28.28
(+0.09)
Platinum
961.50
(+0.38)
Brent Crude
44.55
(-1.53)
Palladium
2166.01
(+0.63)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 929 votes
It depends on how the funds are used.
74% - 6239 votes
No. We should have gotten the loan elsewhere.
15% - 1284 votes
Vote