News

Eskom to pay millions of rands in bonuses

Date: Jul 17, 2017

Eskom has confirmed that it is to pay multi-million rands in bonuses to present and former Executives, including former Chief Executive, Brian Molefe

Eskom has confirmed that it is to pay multi-million rands in bonuses to present and former Executives, including former Chief Executive, Brian Molefe

Speaking to Sakina Kamwendo, Eskom spokesperson, Khulu Phasiwe said all deserving employees who contributed in the past financial year will receive bonuses

The Sunday Times reported that the State Owned entity is seeking approval from Public Enterprises Minister Lynne Brown to approve bonuses totalling R5.5-million for its most controversial former and current executives.

According the newspaper;

  • Brian Molefe- who resigned or went on leave to become and ANC MP after being implicated in the Public Protector’s State of Capture report will be paid a R2.1-million bonus for the eight months he served as CEO in the 2016-17 financial year
  • Matshela Koko‚ who was acting CEO after Brian Molefe's departure from Eskom - who was investigated for wrong doing after Impulse, a company where his stepdaughter was a director scored a R1billion rand contract from the power utility, could get a R1.5-million bonus.
  • Chief financial officer Anoj Singh, who has links to the Guptas, is scheduled to receive a R1.9-million windfall.

Phasiwe says, on Wednesday when the company releases its results it will be sitting at nearly R 40-billion rands. ❝So that it is the measure of profitability and the management team together with everyone else within Eskom were measured against that, and because they have met and exceeded the target that the minister had given them, it is against that principle that management and everyone else who qualify will be getting this bonus❞.

LISTEN to full interview

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