SABC bosses score R45 million in pay

State broadcaster, the SABC recently released its annual financial report for 2018, detailing a poor set of results.

The SABC reported a loss of R622 million for the year ended March 2018, which was an an improvement over its restated loss of R1 billion in the previous financial year.

This was despite a revenue figure of R6.6 billion.

According to SABC chairman Bongumusa Makhathini, the SABC board has implemented measures to stabilise the corporation and address “endemic levels of corruption and maladministration that have been prevalent at the SABC for many years”.

“Self-inflicted actions like the arbitrary 90-10 decision continue to impact on the SABC’s revenue,” he added.

Phumzile Van Damme, shadow minister of communications for the DA, said the report “paints a grim picture about the state of the SABC’s financial affairs”.

Executive pay

As part of the annual report, the SABC is required to disclose the pay its executives receive.

The remuneration section of the report details pay to board members, senior management, and executive directors.

With the state broadcaster running at a big loss, and government bailouts said to be planned for the SABC, executive pay is understandably under the spotlight on a continual basis.

The SABC’s list of executives and senior management consists of over two dozen people, many of whom received over R1 million in total remuneration for the year.

In total the group paid R45.5 million in salaries to its 40 senior managers, executive and non-executive directors, averaging about R1.13 million per person.

The table below details the remuneration section of the SABC’s latest financial report, with individuals earning over R1 million included.

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