POLL | Would you survive on R64,000 a month?

Former Eskom group CEO Brian Molefe’s alleged finances have sparked debate after his lawyers claimed his earnings are “not economically glamorous”.

Molefe once earned R18.2m in two years, but his representatives claim today he makes do on about R64,000 a month.

The controversial former executive apparently receives a monthly income of R52,000 from his pension and R12,000 from a self-employment gig.

This was revealed during his bail application in the Palm Ridge magistrate’s court this week. He was released on R50,000 bail.

Molefe’s lawyer, Mpho Molefe, said Molefe raised R20,000 for bail as he was a self-employed pensioner and would have to borrow from family to find the full bail amount.

The amount raised eyebrows and sparked conversations at dinner tables and water coolers across the country.

Molefe reportedly earned R12.4m between 2013 and 2014 as group CEO of Transnet. His controversial move to Eskom netted him R9.3m.

This amount was made up of R6.9m in salaries and R2.4m in bonuses, according to the utility’s financial statements.

Molefe, former Transnet and Eskom CFO Anoj Singh and Regiments directors Niven Pillay and Litha Nyhonyha were accused of fraud and corruption in the case involving former Transnet CEO Siyabonga Gama, former acting CFO Garry Pita, former group treasurer Phetolo Ramosebudi, Regiments Capital shareholder Eric Wood and his employee Daniel Roy and Kuben Moodley, owner of Albatime.

The case is in relation to R93m Transnet paid Trillian for organising a R30bn club loan to help buy 1,064 locomotives. 

The matter will be back in court on October 14, with the National Prosecuting Authority not ruling out further arrests.

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