See More

Eskom boss not ashamed of bonus

Aug 26 2011 07:30 Jean-Marie de Waal

Related Articles

Eskom warns of tight supply in summer

Eskom rebuilds coal stocks after strike

Eskom gets large loan for wind project

Minister unveils Eskom chiefs' pay

Gigaba: SOEs to prefer black accountants

Cape Town - Eskom chief executive Brian Dames has said he is not ashamed of the R2.1m bonus he received last year.

Responding to a question about it at an Eskom presentation on essential maintenance work which could impact power supply in coming months, he said he did not think he needed to feel guilty about the bonus.

Bonuses such as these are to be expected, since Eskom is the country’s biggest company and has to ensure that the country’s lights are kept on. The bonuses are moreover less than 1% of those paid to top management in the private sector, he said.

Eskom’s executive directors are keenly aware of the situation in the country and of the remuneration gap between top executives and workers. Dames explained that the directors were also very aware of their performance targets in keeping the lights burning while bringing about energy efficiency.

Public Enterprises Minister Malusi Gigaba pointed out that Dames had not awarded himself the bonus, and still did not receive a chief executive’s salary. He still merely received the supplementary allowance he had received as Eskom’s acting CEO.

Gigaba said the remuneration of chief executives in the public sector was to be discussed by an inter-ministerial task team on which both he and Finance Minister Pravin Gordhan served.

The minister said a provisional report on the remuneration of heads of state institutions would probably be submitted to cabinet in December.

When asked about the R63m that Transnet’s top management had received during the same period, Gigaba said these long- and short-term bonuses had had to be paid as they had already been budgeted for.

The framework for remuneration of heads of state institutions will serve as the reference point for future salary structures.
- Sake24

For business news in Afrikaans, go to www.sake24.com.
eskom  |  brian dames


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

The Fast and Furious R40 million

With the Fast and the Furious 7 hitting South African cinema’s this April, all eyes are on the cars and we’re in for a treat!


Luxury living

This is the most expensive burger in the world!
Exclusive food items that WILL break the bank
Top 10 most expensive homes in the world
You can permanently live on a ship and sail the world!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How will you manage Vodacom’s price hike for contracts?

Previous results · Suggest a vote