Business / Local
Sifiso Dabengwa highest paid CEO in SA
24 Jun 2013 at 11:05hrs | Views
MTN Group president and CEO Sifiso Dabengwa is again topping the list as the highest paid CEO in telecoms and tech, MyBroadband reported on Sunday.
Dabengwa ended the 2012/'13 financial year R23.5m richer. This includes a base salary of R8.4m, benefits of R1.678m and a bonus of R13.45m.
He took home R22.528m in the previous financial year, according to the report.
The MTN Group is Africa's largest telecommunications company, with over 195 million subscribers in 22 countries.
In April, the mobile phone operator reported a 3.2% increase in subscriber numbers to 195.4 million for the first quarter of 2013 from the fourth quarter 2012.
In the report comparing the remuneration between ICT CEOs, MyBroadband said Altech head Craig Venter decided in May to forego his bonus for the 2012/'13 financial year. This was due to a poor financial performance. He still earned R7.73m in remuneration for the year. This is less than the R9.42m he earned the previous year.
The decision was welcomed by the company's board, since Altech recently announced a realignment of its interests to stave off losses from its East Africa operations.
Altron CEO Robbie Venter earned R11.164m in remuneration for the financial year.
The lowest earnings among South Africa's big ICT companies went to the CEO of the Vodacom Group, Shameel Joosub.
He earned R6.7m in the last financial year despite only having taken up the position in September last year.
Joosub had been with the group for 18 years, having joined in 1994 as a senior accountant – a few days before his 23rd birthday.
His predecessor, Pieter Uys, took home R7.16m for the financial year, the same he earned in the 2011/'12 financial year.
The joint CEO's of Blue Label, Brett and Mark Levy – who didn't take bonuses in 2011/2012 – earned R13.309m each. This includes bonus of R7.259m each.
Dabengwa ended the 2012/'13 financial year R23.5m richer. This includes a base salary of R8.4m, benefits of R1.678m and a bonus of R13.45m.
He took home R22.528m in the previous financial year, according to the report.
The MTN Group is Africa's largest telecommunications company, with over 195 million subscribers in 22 countries.
In April, the mobile phone operator reported a 3.2% increase in subscriber numbers to 195.4 million for the first quarter of 2013 from the fourth quarter 2012.
In the report comparing the remuneration between ICT CEOs, MyBroadband said Altech head Craig Venter decided in May to forego his bonus for the 2012/'13 financial year. This was due to a poor financial performance. He still earned R7.73m in remuneration for the year. This is less than the R9.42m he earned the previous year.
The decision was welcomed by the company's board, since Altech recently announced a realignment of its interests to stave off losses from its East Africa operations.
Altron CEO Robbie Venter earned R11.164m in remuneration for the financial year.
The lowest earnings among South Africa's big ICT companies went to the CEO of the Vodacom Group, Shameel Joosub.
He earned R6.7m in the last financial year despite only having taken up the position in September last year.
Joosub had been with the group for 18 years, having joined in 1994 as a senior accountant – a few days before his 23rd birthday.
His predecessor, Pieter Uys, took home R7.16m for the financial year, the same he earned in the 2011/'12 financial year.
The joint CEO's of Blue Label, Brett and Mark Levy – who didn't take bonuses in 2011/2012 – earned R13.309m each. This includes bonus of R7.259m each.
Source - fin24
