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Watch – How R11m in ATM cash deposits followed Brian Molefe

Between 2013 and 2018, R11.3-million in cash flowed into Palcocap — a company linked to former Transnet and Eskom boss Brian Molefe — through 706 ATM deposits across South Africa. Daily Maverick’s investigative journalist for Scoprio Pieter-Louis Myburgh maps the money trail: the ATMs near Molefe’s homes, the deposits that started four days after he moved to Eskom, and the striking overlap between his Gupta contact dates and cash flowing into the account. This is Part 2 of Daily Maverick’s Palcocap series.

Pieter-Louis Myburgh
By Pieter-Louis Myburgh
25 Mar
Brian Molefe (Illustrative image: Daily Maverick/ Multimedia) Brian Molefe (Illustrative image: Daily Maverick/ Multimedia)


Reporting by: Pieter-Louis Myburgh
Edited by: Malibongwe Tyilo
Filmed by: Joel Seboa
Produced by: Emilie Gambade
Sub-edited by: Kevin Flynn

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Comments

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- Matt 25 March 2026 07:00 PM

Excellent, detailed review. Thank you @PLM. Interested in where the FIC is in this, and the disclosure notices that need to be submitted to them for cash transactions, and especially multiple smaller cash transactions. We have amazing laws. It would be satisfying if the people tasked with policing them would do what they're paid to do. Molefe in orange overalls would be just deserts. He got a good salary - why did he need to be so greedy too? Ditto the rest...