Former SABC COO Hlaudi Motsoeneng has been ordered to pay back a R11.5m “success fee” awarded to him by the broadcaster, plus interest.
The high court in Johannesburg set aside a 2016 decision by the former SABC board to pay Motsoeneng the fee, ruling it was unlawful and invalid.
He has seven days to pay back the money with interest at the rate of 15.5% per annum calculated from September 2016 to date of payment.
If he does not pay, the SABC Pension Fund is ordered to pay the amount to the SABC or all the pension proceeds where the proceeds do not amount to R11,508,549.
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Former SABC COO Hlaudi Motsoeneng has been ordered to pay back a R11.5m “success fee” awarded to him by the broadcaster, plus interest.
The high court in Johannesburg set aside a 2016 decision by the former SABC board to pay Motsoeneng the fee, ruling it was unlawful and invalid.
He has seven days to pay back the money with interest at the rate of 15.5% per annum calculated from September 2016 to date of payment.
If he does not pay, the SABC Pension Fund is ordered to pay the amount to the SABC or all the pension proceeds where the proceeds do not amount to R11,508,549.
Court gives Hlaudi Motsoeneng seven days to pay back R11.5m ‘success fee’ with interest
He was given the fee for negotiating a deal with MultiChoice for broadcast rights, including access to the SABC archives. This was later challenged by a new board at the broadcaster.
Motsoeneng denied wrongdoing, arguing he deserved the fee for his business “innovation” and raising capital for the struggling SABC.
Motsoeneng’s name raced up the Twitter trends list soon after the ruling, with many weighing in on the amount and predicting what his next move would be.
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