17 July 2017

South Africa: Scorpio - the Pension Like No Other - the Truth of Brian Molefe's R30m Eskom 'Golden Handshake' Exposed

Photo: South African Broadcasting Corporation
Brian Molefe, former Eskom CEO and now a member of parliament

In November 2016 a sorrowful Brian Molefe announced he would resign from Eskom "in the interests of good corporate governance" after the Public Protector proved just how chummy he was with Gupta Inc. Three months later Molefe received a controversial R30-million golden handshake... err, performance bonus. No, make that a pension fund payout. Because Molefe - Eskom's CEO at the time - got retrenched. Or resigned. Took early retirement? No, was on unpaid leave. Yeah, we all got lost in the absurdity that stopped short of maternity leave. Thanks to a series of emails and documents leaked from the heart of Eskom, SCORPIO now clears the confusion. By PAULI VAN WYK.

Brian Molefe's resignation "in the interests of good corporate governance" on 11 November, 2016, was a lie.

Newly leaked emails indicate that Molefe started planning the feathering of his retirement nest at least as early as a year before, in November 2015 - two months after he was employed by Eskom on a fixed five-year contract.

Eskom further defrauded the public when they made a 63-year-old out of the 49-year-old - the evidence will show that Molefe was employed for 15 months at Eskom, but his pension cost was...

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