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GroundUp reports that top executives in at least 24 government-funded agencies were paid more than R3 million in the 2017/18 financial year, namely more than the salary allocated to Jacob Zuma in what was his final year as state president.
Five of the 24 executives were paid more than R5 million each, while three received packages worth over R7m. GroundUp used official reports to analyse executive pay at more than 100 “Schedule 3A” entities, namely bodies such as SARS, the National Lotteries Commission and SA National Parks. At the 111 agencies analysed, the average top executive was paid nearly R2.5m in 2017/18 — more than the average salaries of the ministers to whom they reported. Executive pay packages often included lavish bonuses, and sometimes significant allowances for everyday expenses, such as mobile phone use. The highest-paid 3A executive was Samson Moraba, CEO of the National Housing Finance Corporation, who was paid almost R9m in 2017/18, inclusive of a R4.1m bonus. Makhosini Msibi, CEO of the Road Traffic Management Corporation, was paid just under R8m in 2017/18, including a R2.7m bonus. Before any bonuses were taken into account, Dube Tshidi, the former head of the Financial Services Board, was paid R5.6m in 2017/18. With bonuses, his pay rose to R7.3m. Some top 3A staff got huge pay packets despite problems at their agencies. The GroundUp report includes a table of the top executives who earned more than R3m in 2017/18:
- Read this informative report by Jon Allsop in full at GroundUp
Get other news reports at the SA Labour News home page