What MTN’s top dogs earn

MTN Group president and CEO, Sifiso Dabengwa took home as much as R23.54 million for the year ended December 2012, including a bonus exceeding R13.45 million.

This was revealed at MTN published its annual report on Friday (19 April).

Dabengwa drew a basic salary of R8.4 million – up from his remuneration of R7.13 million in 2011. During that year, the company chief added a bonus of R14 million to a total wage bill of R22.53 million.

In 2011, former CEO Phuthuma Nhleko received a parting handshake of R48.8 million.

Nazir Patel, chief financial officer at MTN Group, picked up a total of R13.84 million, including a bonus of R6.43 million, down from R7.47 million in 2011.

Distribution of wealth
MTN distribution of wealth

ANC deputy president Cyril Ramaphosa, who stepped down from his position as a non-executive director and chairman of MTN in March, pocketed R1.9 million, while the wage bill for the team of 11 non executives, moved up to R13.21 million, from R12.12 million in 2011.

“I believe MTN is in good hands and that the appointment of my successor is progressing responsibly. I wish the group, the board and all MTN employees the best for the future. I will be watching your progress with great interest and affection,” Ramaphosa said in his chairman’s report.

Jyoti Desai, group chief technology and information officer, garnered R13.9 million, while Karel Pienaar, the CEO for MTN South Africa, collected R14.44 million.

MTN executive pay
MTN executive pay

For the year ended December 2012, MTN reported a 10.9% rise in revenue to R135.11 billion.

Headline earnings per share increased 1.9% to 1089,1 cents, while the group announced a final dividend of 503 cents, from 476 cents in 2011.

While Vodacom CEO Shameel Joosub has not been in his position for a year yet, having started in July 2012, former CEO Pieter Uys commanded a salary of R16.52 million, including a basic of R7.08 million.

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What MTN’s top dogs earn