Bar bonuses to ‘in­ept’ Eskom bosses – DA

The Star Early Edition - - COMPANIES - ANA

THE DA has urged Pub­lic En­ter­prises Min­is­ter Lynne Brown to stop bonus pay­ments to “in­ef­fec­tive” Eskom ex­ec­u­tives.

Brown had the power to stop “the han­dover of mil­lions of pub­lic money to Eskom ex­ec­u­tives who have ut­terly failed, and in some cases, are the cause of the dire fi­nan­cial sit­u­a­tion at the power util­ity”, DA spokes­woman Natasha Maz­zone said.

The DA pub­licly called on Brown to re­ject the re­quest to ap­prove short-term bonuses of R5.5 mil­lion for three for­mer and cur­rent ex­ec­u­tives, which formed part of a R13m pay­ment for top ex­ec­u­tives – R2.1m for for­mer Eskom chief ex­ec­u­tive Brian Molefe, R1.5m for sus­pended act­ing chief ex­ec­u­tive Mat­shela Koko, and R1.9m for chief fi­nan­cial of­fi­cer Anoj Singh.

“The fact is that Eskom may not be able to pay salaries to its 49 000 em­ploy­ees come Novem­ber. Ac­cord­ing to reports, its in­come de­creased from R5.3 bil­lion last year to R900m in June, while the in­ter­est it ac­crued on its debt jumped to R38bn from R31bn,” Maz­zone said.

“Eskom fi­nances are in a sham­bles. The true state of Eskom’s fi­nan­cial sit­u­a­tion is markedly dif­fer­ent from the pic­ture of ex­cel­lence painted by Mr Ben Ngubane (for­mer Eskom board chair­man) when he and the board ap­peared be­fore the port­fo­lio com­mit­tee on pub­lic en­ter­prises two months ago.

Squan­dered

“It is ut­terly un­ac­cept­able for ex­ec­u­tive bonuses to be paid while or­di­nary em­ploy­ees may not be paid. Only good per­for­mance should be re­warded. Yet Eskom is clearly in­tent on do­ing the op­po­site. The DA will not al­low pub­lic money to be squan­dered on in­ef­fec­tive ex­ec­u­tives while the liveli­hoods of or­di­nary em­ploy­ees are put at risk,” Maz­zone said.

PHOTO: SIM­PHIWE MBOKAZI

The DA says Pub­lic En­ter­prises Min­is­ter Lynne Brown must stop bonuses be­ing paid to failed bosses.

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