Eskom pays bonuses to suspended officials

Die Vryburger

Bankrupt Eskom pays bonuses to suspended officials - Image - Die Vryburger

Reliable sources close to Eskom believe that the institution only has enough cash to pay three months’ salaries.

Nevertheless, they plan to pay bonuses to managers, as well as to Matshela Koko and Brian Molefe.

Minister Lynne Browe has been asked to approve R5,5 million bonuses that form part of Eskom’s planned R13 million payouts to top management officials.

Molefe must apparently receive R2,1 million for eight months’ work as a chief executive officer, while Koko, who is facing a disciplinary hearing, is believed to receive R1.5 million.

Anoj Singh, the chief financial officer with alleged close ties with Gupta brothers, will receive “only” R1,9 million while also waiting for the outcome of corruption charges against him.

The Eskom interest rate repayments currently amount to R38 billion.

An Eskom spokesperson tried to justify the absurd bonuses by claiming that managers have achieved their goals and are therefore entitled to bonuses.

Meanwhile, consumers need to re-introduce a rate increase which is above the inflation rate into their budgets so that the proverbial fat cats can live in extravagant wealth.

The biggest problem is that Eskom has the monopoly, which leaves consumers no choice but to subsidize these bonuses.

Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News

Related Post

Amendments to taxation laws probably the last nail... Planned amendments to the existing taxation and administration laws are most probably the last nails in the coffin for South Africa’s finances and the...
Mbalula issues call-up for more than 600 former &#... The minister of police has called up 600 members of the so-called non-statutory powers (NSM) after a meeting on Friday. The purpose of the meeting ...
Eskom, Zuma and Guptas Witnesses for the parliamentary committee on state capture at Eskom are producing increasingly damning reports about people who interfere with operati...
Claims of unacceptable management style against De... Craig Kesson, executive director of the Mayor of Cape Town, Patricia de Lille's office, made shocking allegations against De Lille in an affidavit. ...