Eskom confirms executives, including Molefe, to get bonuses
JOHANNESBURG – Eskom has confirmed that it will be paying multi-million-rand bonuses to current and former senior managers including axed CEO Brian Molefe.
This was confirmed by the utilities spokesperson Khulu Phasiwe despite reports suggesting the utility is facing financial difficulties. “We are paying bonuses because people have met and exceeded their performances,” he said.
On Sunday reports by the Sunday Times contained figures that are to be paid for the former and current Eskom executives which includes former CEO Brian Molefe and suspended CEO Matshela Koko. Phasiwe admitted the figures which are in the report are correct.
“The report you saw today by the Sunday Times specifically about the figures that are going to be paid to the individuals you mentioned. Those figures are not incorrect…and because they have met their targets…that’s how and why they’re going to be getting those bonuses.”
Eskom has defended its decision to pay multi-million-rand bonuses despite facing financial difficulties.
“What makes business sense is when you’re given a target at the beginning of the financial year before any money is made …If you do meet those targets and for whatever reason your employer is not able to compensate you then you are talking about something else.”
“Unless you are saying that we shouldn’t be paying even though there was a commitment from the board and the minister that whoever’s going to meet their targets will get the bonus then you are talking about something different.”
He said from the utility’s side targets were met and accepted by the board and the minister which qualifies everyone working at Eskom to get bonuses.