Moneyweb reports that the CEO of Cell C, Jorge Mendes, was paid bonuses and retention payments equal to 99% of his R14.8 million salary in the year to 31 May.
This means he received total remuneration of R29.4 million in the year, nearly double the R14.5 million he was paid in the 2024 financial year. This disclosure comes ahead of the listing of the mobile operator on 27 November. Presumably, these bonuses were due to Cell C having achieved its turnaround, with revenue up 6% between end-May 2024 and end-May 2025 to R12 billion. Profit before tax increased from R9 million to R280 million.
Mendes joined Cell C from Vodacom in July 2023, with 27 years of telecommunications experience. His R29 million salary compares very favourably with other mobile operators in the market, despite Cell C being the smallest. Vodacom CEO Shameel Joosub received remuneration (excluding long-term incentives) of R39 million in the 2025 financial year. MTN Group CEO Ralph Mupita was paid a total of R64.7 million in 2024. However, Vodacom and MTN are both significantly larger and more complex operators than Cell C and are active in multiple markets across Africa.
- Read the full original of the report in the above regard by Hilton Tarrant at Moneyweb
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