Annual earnings of CEOs at South Africa’s state-owned enterprises
Some CEOs leading South Africa’s major state-owned enterprises are earning as much as R15.5 million annually.
Parliamentary Q&A sessions have revealed the annual earnings of public officials and CEOs at major South African state-owned enterprises.
According to BusinessTech, some executives earn as much as R15.5 million per year, an astonishing R42 400 per day. The CEO of the Development Bank of South Africa tops the list with the highest salary among public officials in the country.
How much do these CEOs earn?
Next on the list of highly-paid Chief Executive Officers is Transnet’s CEO, who earns R8.5 million a year.
The Passenger Rail Agency of South Africa (PRASA) pays its CEO R7.8 million per year, with the CEO of the Road Accident Fund (RAF) coming in next, earning R7.1 million annually.
Take a look at the top 10 SOEs as well as how much their CEOs are paid below:
| State-owned enterprise | CEO pay per year | CEO pay per month | CEO pay per day |
|---|---|---|---|
| Development Bank of South Africa | R15.5 million | R1.29 million | R42 465 |
| Transnet | R8.5 million | R708 333 | R23 287 |
| Passenger Rail Agency of South Africa (PRASA) | R7.8 million | R650 000 | R21 370 |
| Road Accident Fund (RAF) | R7.1 million | R591 666 | R19 452 |
| Council for Scientific and Industrial Research (CSIR) | R6.92 million | R576 667 | R18 959 |
| Central Energy Fund | R6.15 million | R512 500 | R16 849 |
| Air Traffic Navigation Services | R6.14 million | R511 667 | R16 822 |
| South African Airways (SAA) | R6.0 million | R500 000 | R16 438 |
| PetroSA | R5.8 million | R483 333 | R15 890 |
| Rand Water | R5.4 million | R450 000 | R14 795 |