Reports: Prasa acting CEO Collins Letsoalo hikes his pay by over 300%

Letsoalo has been at the helm at Prasa for about seven months now after being seconded by Transport Minister Dipuo Peters last July.

FILE: Collins Letsoalo (centre) and Prasa executives during a media briefing in Cape Town. Picture: Twitter/€@PRASA_Group.

JOHANNESBURG – Passenger Rail Agency of South Africa (Prasa) acting CEO Collins Letsoalo has reportedly hiked his own pay by 350%, securing a pay cheque four times higher than his agreed salary.

The Sunday Times says just a month after his arrival at Prasa, Letsoalo demanded the same R5.9 million package that former boss Lucky Montana had received.

The paper says when the state company’s acting head of Human Resources resisted Letsoalo’s demand, the interim CEO accused him of insubordination and had him replaced.

Letsoalo has been at the helm at Prasa for about seven months now after being seconded by Transport Minister Dipuo Peters last July.

The paper says in her second letter sent to Letsoalo, Peters makes it clear that the acting CEO’s pay package of R1.3 million would not change but he would receive a 12% acting allowance.

But the paper says Letsoalo pushed for R5.9 million, which translates to an acting allowance about R390,000 a month.

He also demanded a chauffeur-driven vehicle and a company cellphone with unlimited calls.

This is all despite him talking tough about irregular contracts amounting to about R13.9 billion under Montana.

(Edited by Leeto M Khoza)