MTN Group CEO Sifiso Dabengwa walked away with a total salary of over R48 million in 2013 – more than double the R23.5 million he received in 2012.<\/p>\n
In the company’s annual report for the year ended 2013, Dabengwa’s massive pay jump is credited to share gains of R19.2 million, along with a higher bonus and relatively small increase in base salary.<\/p>\n
Dabengwa’s base salary was R8.9 million – up from R8.4 million in 2012.<\/p>\n
MTN South Africa lead Zunaid Bulbulia, who took up the position in June 2013, was paid a total R7.6 million off a base salary of R2.05 million.<\/p>\n
Bulbulia was not awarded a bonus in 2013, and earned a further R4.9 million through share gains.<\/p>\n
Former MTN SA head, Karel Pienaar, received R8.7 million, including a R3.6 million bonus.<\/p>\n
ANC deputy president, Cyril Ramaphosa, who resigned as a non-executive director of MTN in May 2013, got a final paycheque of R850,000 from the operator.<\/p>\n
In its financial results for the year ended December 2013, MTN reported a 12% rise in group revenue to R137 billion; however, its South African operation saw an earnings decline.<\/p>\n
Group subscribers increased 9.8% to 207.8 million, and data revenue increased 41.4% to R20.7 billion.<\/p>\n
Headline earnings per share (HEPS) increased 27.3% to R13.86, and the group delivered a final dividend of 665 cents per share, with a total dividend of R10.35 per share.<\/p>\n
Operating profit rose to R40.5 billion, from R36.7 billion before.<\/p>\n
In South Africa, revenue dropped to R39.7 billion, from R41.3 billion in 2012, with ebitda down to R13.4 billion, from R14.5 billion before.<\/p>\n
MTN is currently embroiled in a court case with regulator Icasa, over call termination rates.<\/p>\n
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