8 November 2019
The IT executive with the highest salary in South Africa
MTN CEO Rob Shuter’s salary of R43 million was the highest of any ICT executive over the past year, followed by Vodacom CEO Shameel Joosub with R38 million.
While these pay packages seem high in a country where the average salary in the formal sector is R21,432 per month, the reality is that many of these executives can earn much more overseas.
Former Checkers CEO Whitey Basson, who was often lambasted for his high pay package, said his salary was relatively low when compared to his international counterparts.
Basson said that while he was Checkers CEO, he was approached by three major international companies which offered him double and even triple his salary to jump ship.
He said it is challenging to keep top executives in the country who can grow the industry and ensure the country has a brighter future.
Instead of complaining about high executive salaries, Basson said, people should rather focus on growing the economy to light salaries across the board. See the list of names and salaries here