South Africa-Eskom-Court

S/Africa's power utility recovers $2m pension from former CEO

APA-Johannesburg (South Africa)

South Africa’s beleaguered state-owned power utility Eskom has announced that it has recovered US$2 million unlawfully paid to its former chief executive Brian Molefe as his pension benefits, APA learnt on Thursday.

Eskom said in a statement that the North Gauteng High Court had reaffirmed a 2018 judgment that had reviewed and set aside a 2016 early retirement agreement between Molefe and the power utility.  

“Eskom is pleased to confirm that it has successfully recovered the US$2.0 million it unlawfully paid to the Eskom Pension and Provident Fund (EPPF) for the benefit of former chief executive officer Brian Molefe in 2016,” the utility said.

In terms of the 2016 agreement‚ Eskom paid the EPPF approximately US$2 million “to boost Mr. Molefe’s early retirement pension payout.”

“However, the EPPF‚ the party in the court process with Mr. Molefe‚ has refunded Eskom the funds,” the firm said, adding that it would not comment any further on the issue.” 


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