Court orders former Eskom boss Brian Molefe to pay back R10 million to pension fund

accreditation
0:00
play article
Subscribers can listen to this article
Former Eskom CEO Brian Molefe appears at the State Capture Inquiry this week. Picture: Rosetta Msimango
Former Eskom CEO Brian Molefe appears at the State Capture Inquiry this week. Picture: Rosetta Msimango
City Press

Brian Molefe, the former CEO of Eskom, has been directed to pay back just under R10 million, plus interest, to the power utility's pension fund. 

This follows a drawn-out legal process that dates back to 2018, when the same court set aside all Molefe's pension payouts. 

But the former Eskom boss did not pay back the money in the intervening four years, arguing that he didn't know what exact amount he needed to pay. 

The Gauteng High Court in Pretoria has now ruled that Molefe needs to pay the pension fund R9 985 540 plus interest calculated from 31 October 2019 up to the date he pays. 

In a statement, the fund said that this brings the matter of what Molefe needs to pay to a close. "[The] ruling means Mr Molefe will have to pay back as directed by the court," it said. 

The fund, meanwhile, will pay back Eskom the balance of the R30 million it had received from Eskom.

Molefe, who served two stints as Eskom's CEO, was initially ordered to pay back his pension by the North Gauteng High Court in Pretoria in January 2018 in a case brought by trade union Solidarity and the DA. 

"We find that Mr Molefe was never entitled to receive any pension benefits from the Eskom Pension Fund and the payments in lieu of such benefits were patently unlawful," the court ruled at the time. 

The court also set aside the power utility's acceptance of Molefe's early retirement and the controversial decision to reinstate him as CEO.

Get the biggest business stories emailed to you every weekday.

Go to the Fin24 front page.

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
16.64
-0.1%
Rand - Pound
20.14
-0.3%
Rand - Euro
17.02
-0.5%
Rand - Aus dollar
11.60
+0.0%
Rand - Yen
0.12
-0.2%
Gold
1,792.97
+0.2%
Silver
20.61
-0.3%
Palladium
2,220.13
-1.0%
Platinum
942.68
-0.3%
Brent Crude
96.65
+1.8%
Top 40
63,771
0.0%
All Share
70,266
0.0%
Resource 10
65,045
0.0%
Industrial 25
85,829
0.0%
Financial 15
15,741
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders