9 months ago
Former Eskom CEO, Brian Molefe.  ~ 

THE R30 million golden handshake pension fund payout for former Eskom CEO, Brian Molefe was manipulated.

The Daily Maverick’s investigative unit, Scorpio reports indicate that Eskom's provident fund regulations were flouted.

Scorpio is in possession of leaked e-mails from Eskom showing how officials were persuaded into doubtful approvals with regards to Molefe's pension fund.

The leaked emails from Eskom indicate that Molefe started planning the "feathering of his retirement nest" a year before his controversial exit in 2016.

Molefe was sacked from Eskom at the beginning of June following a short return after serving as an African National Congress MP from February.

He stepped down as Eskom CEO last year after his allegedly improper relationship with the controversial Gupta family came to light in the Public Protector’s State of Capture report.

Molefe agreed to return to Eskom after Public Enterprises Minister Lynne Brown discovered he had been granted a R30m early pension payout, which she refused to overlook.

The former CEO was only employed for 15 months at Eskom, but his pension cost was calculated as if he had worked until the age of 63.

The emails also showed that Molefe was in fact "retrenched", according to Eskom’s official records, to further advance his interests.

Molefe was also apparently never entitled to be a member of the Eskom Provident and Pension Fund.

He was appointed on a fixed-term contract of five years, and as a result classified as a "temporary employee".

It seems Molefe’s pension fund irregularities was one of the concerns raised by Eskom external auditors.

They reported two irregularities to the Independent Regulatory Board of Auditors last week.


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