Even in the middle of the COVID-19 outbreak, South Africa's digital technology industry has remained one of the most robust. The southern Afrikan country's telecommunications industry is listed as the most profitable sector within the ICT sphere in the most recent version of the State of ICT Report by the (ICASA).
Reflective of the growing riches within this telecommunication space, network operators have disclosed larger salary packages for their executives' teams in recently published integrated annual financial reports.
Ralph Mupita, CEO of MTN Group
MTN Group CEO, Ralph Mupita received R84,2 million in total salary in the fiscal year of 2021. Mupita's salary for the fiscal year 2021 is up 133% over the previous financial year.
"The difference in salary earned in 2021 against 2020 was related to better performance results between the two years and his appointment to group president and CEO, beginning 1 September 2020," MTN noted in the report.
Mupita’s basic salary during 2021 financial was R15,4-million. Added to his renumeration is short-term incentives which amounted to R29 million (STI), and the largest contributor to the R84 million renumeration for 2021 was the long-term incentives (LTI) which were R37,8-million.
Shameel Joosub, CEO of Vodacom Group, had total compensation of R55 million in the fiscal year 2021. This was a 26,6% increase in pay over the previous fiscal year.
Joosub's total annual package for 2021 was made up of R17,6 million in STI, and R16,9 million in LTI. Dividends from Vodacom shares earned the Vodacom CEO R7,7 million during the 2021 financial year.
Sipho Maseko, who had agreed to lead Telkom until the end of 2022, has stepped down as CEO, and Serame Taukobong has been named CEO designate. In Maseko's last fiscal year at the helm, he netted R35,4 million.
This was made up of R10,2 million in STI and R6 million in LTI while other remuneration and benefits made up the rest of the package for the 2021 financial year for Maseko.
— By Bataung Qhotsokoane