Former Eskom CEO Brian Molefe to appeal R10m pension fund ruling

Former Eskom CEO Brian Molefe will appeal a ruling that forced him to pay back nearly R10 million in pension benefits he received when he left the power utility.

The Pretoria High Court, on 4 July 2022, ruled that Molefe had to pay R9.985,540 plus interest to the Eskom Pension and Provident Fund (EPPF) within 10 days.

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The former Eskom chief executive, however, wants to appeal the ruling.

EPPF chief executive Shafeeq Abrahams criticised Molefe, accusing him of Stalingrad tactics.

“The [fund] believes there are no merits to Mr Molefe’s appeal, and it is an attempt to delay the implementation of the court order,” Abrahams told Fin24 on Wednesday.

Read below:

Eskom Pension and Provident Fund vs Brian Molefe by Molefe Seeletsa on Scribd

In November 2016, Molefe retired from Eskom with a R30 million early retirement package. He was then reinstated as CEO in May 2017.

But the Pretoria High Court in 2018 ruled that his reinstatement at Eskom was invalid and his early retirement package was unlawful.

Molefe was then ordered to repay the EPPF the money he’d already received.

Property auction

Meanwhile, Molefe’s R8.5 million property was put up for public auction.

The former Eskom chief executive’s 4,746 square metre property, which is located at the Legend Golf & Safari Resort, was expected to be sold at an auction in Mokopane, Limpopo on 22 April 2022.

This was confirmed in a government gazette notice dated 8 April.

It is unknown whether the property was indeed sold.

According to gazette, the arrear rates and taxes on the property added up to a total of R483,633 as of 31 January 2022, while its arrear levies stood at R142,630 as of 1 March 2022.

READ MORE: Molefe scores millions on mansion, creating conflict of interest

The property has five bedrooms and bathrooms, two garages and a swimming pool, as per sheriff’s notice.

The gazette also shows that Molefe bought the house for around R8.5 million in 2012 after he was granted a R4 million bond by Standard Bank.

It was then was registered in his name in 2013. 

Standard Bank won a court order against Molefe on 3 November 2021, with a warrant of execution then being issued to sell the property. 

 BURLA, BANCO NACIONAL DE ANGOLA, QUANTUM GLOBAL, JUSTIÇA, CORRUPÇAO

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