What SA’s tech top dogs get paid

 ·1 Sep 2013
salary executive pay money

The latest financial reports reveal which telecommunications executives earned the highest salaries over the last financial year.

Topping the list as the highest paid CEO in telecoms and tech, MTN‘s Sifiso Dabengwa ended the 2012/2013 financial year R23.5 million rand richer. This includes a base salary of R8.4 million, benefits of R1.678 million and a bonus of R13.45 million.

Blue Label Telecom‘s Levy brothers were each paid a salary of R13.309 million for the year, while former Telkom CEO, Pinky Moholi, who was succeeded by Sipho Maseko in April 2013, ended her tenure at the telco with a paycheque of R11,63 million.

Her pay comprised a salary of R6.4 million, plus a short-term incentive of R2.6 million and other benefits of R2.5 million.

Telkom Mobile‘s head, Attila Vitai, took home annual compensation of R8.47 million for the year, including a sign-on bonus of R5.5 million. Vitai joined the company in November 2012.

Former head of the now-delisted Altech, Craig Venter, following a poor financial performance, decided to forego his bonus and walked away with R7.73 million in remuneration for the year, down from the R9.42 million earned the previous year.

Altech has since been absorbed into parent company, Altron, whose CEO, Robbie Venter earned R11.164 million in remuneration for the past financial year.

Vodacom Group’s CEO, Shameel Joosub took home R6.7 million in the last financial year – the lowest amount across the big tech companies in SA. However, Joosub only took up the position as Vodacom head from 1 September 2012, hence his remuneration reflects a seven month period.

CEO Company 2012 Remuneration (Rmillion)
2013 Remuneration (Rmillion)
Sifiso Dabengwa MTN Group 22.528 23.539
Mark Levy Blue Label Telecom 6.049 13.309
Brett Levy Blue Label Telecom 6.049 13.309
Pinky Moholi Telkom 12.067 11.636
Robbie Venter Altron 10.891 11.164
Craig Venter Altech 9.429 7.735
Attila Vitai Telkom Mobile 8.471
Shameel Joosub Vodacom Group 6.700
Koos Bekker Naspers

While it may appear that Naspers CEO, Koos Bekker drew the short straw in terms of annual pay (he does not receive any payment), he is in fact one of the richest men in South Africa.

In terms of a special remuneration scheme at Naspers, Bekker has not received any direct compensation from the company for five years – a deal which started in April 2008.

In lieu of remuneration Bekker was awarded 11.7 million Nasper N shares, which were paid over five years in instalments of 3.9 million shares after year two.

As of March 2013, Bekker has added 3.9 million more shares to his 12.5 million shares owned before, bringing his total shareholding to 16.4 million shares.

At a spot price of R848.81 on 30 August 2013, this places Bekker’s total shareholder value at R13.92 billion.

More on tech executive pay

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What MTN’s top dogs earn

Executive salaries: Telkom vs MTN vs Vodacom

Sitting in the pound seats

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