File image: Former Chief Executive Officer of Eskom Holdings SOC Limited, Brian Molefe. IOL.
File image: Former Chief Executive Officer of Eskom Holdings SOC Limited, Brian Molefe. IOL.

Brian Molefe's R30 million pension under scrutiny

By Staff Reporter Time of article published Oct 20, 2017

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CAPE TOWN - Former CEO of Eskom, Brian Molefe's alleged R30 million pension payout will come under acute scrutiny on the third day of a Parliamentary inquiry into the parastatal. 

An official from the Eskom pension fund is expected to appear before the Portfolio Committee on Public Enterprises on Friday. 

Molefe's departure from the power utility has caused much controversy. 

Rules were allegedly defied in order to secure his generous pension. 

Notably, Molefe's affiliation with the Gupta's was revealed in former Public Protector Thuli Madonsela’s State of Capture report last year.

The reports recount several phone call interactions between Molefe and the notorious Gupta brothers and their associates. 

This was around the same time as a Gupta-owned company acquired a coal mine that supplied some of Eskom’s power stations.

Molefe then left the parastatal after the implicating report was released and joined Parliament as an ANC member. 

However, he returned to the power utility in May this year. 

The board later revoked his reinstatement at the request of Public Enterprises Minister Lynne Brown.

Independent Media reported last month that the former Eskom executive denied reports that he had been approached to replace Public Investment Corporation CEO, Dan Matjila.

This comes after an impromptu meeting took place, to allegedly oust Matjila. 

Matjila survived the meeting and was not removed. 

The rumoured changes at the PIC was driven by reports of the Gupta family eyeing the arm's billions. 

In lieue of the accusations was that Matjila issued millions of rands to help fund a business that belongs to his girlfriend.

READ ALSO: Nobody approached me to replace Matjila at PIC: Molefe


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