Brian Molefe

Brian Molefe is a South African businessman. He was previously a political activist and politician.

Career

Molefe has held numerous executive positions in the public service. These include Deputy Director General in the National Treasury of South Africa, CEO of the Public Investment Corporation, CEO of Transnet and CEO of Eskom.

During his tenure as the CEO of the Public Investment 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 in 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.

Molefe was appointed CEO of Transnet on 2010. He oversaw the implementation of the market demand strategy which resulted in improved rail and port operations. During his tenure, Transnet was profitable.

In 2015, he was appointed CEO of Eskom. His main task was to deal with the problem of loadshedding. Loadshedding was ended within 6 months of his appointment and it did not recur for a period of 3 years thereafter.

On 3 August 2020 Eskom and the SIU jointly issued summons against Brian Molefe in a bid to reclaim R3.8 billion. Molefe raised no less that 30 exceptions to Eskom’s plea. The matter is still to be heard by the North Gauteng High Court.

On January 4, 2022, Part 1 of the Zondo Commission Report was published. It recommended that Molefe be investigated further. This after the previous public protector (Thuli Madonsela) and a parliamentary enquiry had made a similar recommendation. The fourth part of the Zondo Commission report, released on 29 April 2022, recommended that Molefe be criminally prosecuted for his alleged involvement in corruption.[1]

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

References
  1. Khumalo, Juniour (29 April 2022). "'Rampant corruption': Mosebenzi Zwane, Rajesh Gupta and ex-Eskom bosses must be prosecuted - Zondo". News24. Retrieved 29 April 2022.
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