Telkom CEO scores R24 million payday
Telkom Group chief executive Serame Taukobong has received a R24 million paycheque for the full year 2026, down from his R33 million payout last year.
The main reason for the lower pay was a smaller number of vested shares in his long-term incentive, which totalled R3.5 million in 2026, compared with over R13 million in 2025.
His base salary, however, was higher at R10.5 million, versus R9.9 million last year.
The rest of the CEO’s salary comprised an R10 million bonus—the same as in 2025—and other benefits totalling R12,292.
Taukobong’s pay was part of a R116 million haul by Telkom’s top executives and prescribed officers for the year.
Group chief financial officer, Nonkululeko Dlamini, earned R13.6 million for the year, with the second-highest base salary of R7.3 million.
However, the chief executive officer of Telkom Consumer, Lunga Siyo, and the retired CEO of BCX, Jonas Bogoshi, received higher pay than Dlamini, thanks to higher short- and long-term incentives, respectively.
Siyo’s total pay was R20.9 million for the year, off a base salary of R6.4 million and bonuses of R14.5 million.
Bogoshi, meanwhile, received a base pay of R5.7 million with a total payout of R19.9 million thanks to the vesting of his long-term incentive of R11.2 million and a severance package of R2.8 million.
Bogoshi led BCX for seven years before retiring from his executive position on February 28, 2026.
The salaries for the Telkom executive suite came off the back of a strong performance in the 2026 financial year, with the group reporting a solid rise in earnings.
When excluding the group’s Swiftnet sale and focusing only on continuing operations, the group saw its profit for the year rise by 27.5% from R2.8 billion in the prior year.
Headline earnings per share across the group’s total operations rose 30.1% to 708.5 cents per share.
The group also increased its dividend by 3.5% to 270 cents per share, with a dividend payout ratio of 40% to 60%.
Positives were seen in Telkom Consumer, which saw its mobile EBITDA margin expand to 29.0%, while Openserve’s EBITDA margin improved to 33.5%.
Positive outlook for the company
However, while Telkom’s results from continuing operations remained strong, the reported figures were impacted by the sale of Swiftnet in January 2025.
Telkom sold Swiftnet in a deal worth R6.75 billion, with the group recording a R4.7 billion gain from discontinued operations in the 2025 financial year.
Thus, in FY26, across its total operations, the group saw its profit drop from R7.5 billion to R3.6 billion as a result of the sale—even though this was a once-off item in previous reporting.
The group’s earnings per share thus declined by 52.9% to 719.5 cents per share across total operations, but still grew 27.1% on a continuing basis.
At the time, Taukobong said that the results were a validation of the group’s strategy to transform the business.
“We confidently position the group for consistent quality earnings that allow for enhanced shareholder returns,” he said.
With the group now entering the second year of its medium-term guidance in FY2027, Taukobong said he is confident that the company will continue to meet its targets outlined a year ago.
This includes mid-single-digit top-line revenue growth, maintaining capital expenditure at 12% to 15% of group revenue, and ensuring an EBITDA Margin of 25% to 27% for ongoing operations.
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