Brian Molefe

Brian Molefe is a South African businessman, and former political activist.

Molefe was appointed as the CEO of Transnet in February 2011,[1] and as the CEO of Eskom in April 2015.[2]

In November 2016 he left Eskom after being implicated in Public Protector Thuli Madonsela's state capture report.

Notably, the Public Protector report did not have any findings of wrongdoing by Molefe.

It was alleged that Molefe received a controversial R30-million payment from the Eskom Pension Fund.

Despite these allegations the Gauteng North High Court ordered Molefe to repay to the Pension Fund an amount of R10.3m. He Unsuccessfully appealed this ruling to the SCA and the Constitutional Court. After the Constitutional Court bid had failed, the Eskom Pension Fund launched a court application in which it sought to have the R10.3m judgement amended because Molefe had not received R10.3m and the North Gauteng High Court had failed to take into consideration the substantial amount of money that Molefe had paid intO the Eskom Pension and Provident Fund From the Transnet Pension Fund at the time of becoming a member of the Eskom Pension and Provident Fund.

He previously also led the Public Investment Corporation.

During his tenure as the CEO on the Public Investments Corporation from 2003 to 2008, he oversaw a growth in assets under management from R300bn to R900bn. He introduced shareholder activism at the PIC and advocated for the transformation of the South African Corporate sector to be more inclusive and representative of indigenous South Africans who had suffered under the policy of apartheid.

He has also held the position of Deputy Director General at the National Treasury responsible for Assets and Liabilities Management. In this position, he was responsible for, amongst others, the management of sovereign debt. He oversaw a fundamental restructuring of South Africa’s domestic and foreign debt portfolio between 2000 and 2003.

In January 2017 Molefe was sworn in as a member of Parliament.[3]

He resigned from the legislature in May 2017 to deal with the allegations of his pension payout.

Molefe is a Colnel in the South African Army Reserves. He has previously served as Honoray Colonel in the then South African Irish Regiment. The name of the regiment has since been changed to the Andrew Mlangeni Infantry Regiment of the South African Army. The regiment is part of the Reserve Force.

Educational qualifications

• University of South Africa (South Africa) – Bachelor of Commerce
• University of London (United Kingdom) – Postgraduate Diploma – Economics
• University of South Africa (South Africa)- Masters – Business Leadership
• Harvard Business School (Boston, United States of America – Completed 2006) – Advanced Management Program

Awards

• Institutional Investor for the year (2008) – Awarded by Africa Investor Investments Awards
• Empowerment Leadership Award (2007) – Awarded by Wits Business School/Barloworld Empowerment Awards
• Newsmaker of the year (2006) – Awarded by Association of Black Securities and Investment Professionals
• Investment specialist of the year (2004) – Awarded by Black Business Quarterly
• Financial services achiever of the year (2003) – Awarded by the Association of Black Securities and Investment Professionals

Preceded by	Chief Executive Officer of Public Investment Corporation 2003-2010	Succeeded by Masilela. E.
Preceded by Ramos, M.	Chief Executive Officer of Transnet 2011-2016	Succeeded by Gama, S.
Preceded by Matona, T	Chief Executive Officer of Eskom 2015-2016	Succeeded by Hadebe, P.

References

1. "Brian Molefe new Transnet CEO". sanews.gov.za. Retrieved 2020-04-28.
2. "Why Molefe was chosen to lead Eskom". Retrieved 2017-11-28.
3. Koyana, Xolani. "No warm welcome for Brian Molefe in Parliament". Retrieved 2017-11-28.