Bosses’ payouts costly for Eskom

Former Eskom Acting CEO Matshela Koko. Picture: Bheki Radebe/African News Agency (ANA)

Former Eskom Acting CEO Matshela Koko. Picture: Bheki Radebe/African News Agency (ANA)

Published Jul 29, 2018


Cape Town - Eskom suffered huge losses and incurred irregular expenditure of billions of rand when the power utility paid former bosses Brian Molefe and Matshela Koko millions of rand in salaries and bonuses.

Audited financial statements, tabled in Parliament, for Eskom revealed that Molefe, who was chief executive, was paid more than R6 million in 2017. In addition, he was paid a bonus of R2.1m in the same year.

Molefe was paid another R958 000 in other payments.

Former Eskom chief financial officer Anoj Singh was paid R4.8m in salaries and R1.8m in bonuses in 2017.

In addition, Singh was paid R522 000 in various other payments.

Eskom's former chief executive, Anoj Singh. Picture: Henk Kruger/African News Agency/ANA

Former acting chief executive Koko was paid R3.8m in salaries, R1.4m in bonuses and another R79 000 in other payments.

Sean Maritz, who was also appointed acting chief executive at the power utility for several months, took home a salary of R2.6m and raked in R1.1m in bonuses.

Maritz also bagged R155 000 in other payments.

Eskom stated that it incurred irregular expenditure of R19.2bn between 2012 and this year.

The power utility was at the centre of investigations in Parliament over allegations of state capture.

The portfolio committee on public enterprises has submitted its report to the Zondo Commission of Inquiry into state capture.

Former Eskom chief executive Brian Molefe Picture: Timothy Bernard/African News Agency (ANA) Archives

Deputy Chief Justice Raymond Zondo, who chairs the commission of inquiry, said the hearings would begin in August but has not indicated which witnesses have been called to testify.

Head of investigations in the commission Terence Nombembe, who is the former auditor-general, has also called for more people to come forward and give evidence.

The commission has been granted a two-year extension by the High Court in Pretoria to hear evidence on allegations of state capture.

Some of the senior executives at Eskom have been implicated in serious allegations of state capture in the hearings in Parliament.

Political Bureau

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