Eskom chief Brian Molefe earns almost R800‚000 per month – excluding bonuses

Molefe who has steered the parastatal to almost 11 months of no loadshedding‚ has been rewarded with a total remuneration package worth R9.5-million for his efforts.

This works out to a R792‚000 monthly salary‚ excluding bonuses‚ which Molefe said would be reflected in the company’s annual results for the current financial year.

Molefe was roped in from Transnet and he helped to stabilise the electricity supply.

Eskom also had to dig deep to pay former chief executive Tshediso Matona and former finance director Tsholofelo Molefe following their resignations last year. Matona‚ who was the incumbent between September 2015 and 12 March 2016‚ was paid a total remuneration package worth R7-million for the less than six months he spent there.

Matona and Tsholofelo Molefe each received a salary worth R1-million.

Molefe pocketed a total remuneration package worth R8-million.

This resulted in the total remuneration package of the Eskom executive directors rocketing to R30-million from R8.1-million in the 2014/15 financial year.

The directors and executives were in total paid R75-million from R51-million in the 2014/15 financial year.

Eskom has received a R23-billion equity injection from government.

The company for the period under review saw its profit rise by 2‚209% to R4.6-billion from R200-million.

The international sales volume grew by 12.2% due to surplus capacity.

The overall sales declined by 0.8% and municipalities fell by 1.6%‚ rail 7.9%.