LazyLion
King of de Jungle
With a total package of more than R5.2 million last year, National Empowerment Fund (NEF) head Philisiwe Mthethwa may well be South Africa's highest-paid public official, the DA said on Thursday.
Her total financial package, including salary and more than R2m in bonuses, totalled R5,208,143 for the 2013/14 financial year, Democratic Alliance MP Dean Macpherson said in a statement.
Mthethwa is the wife of Arts and Culture Minister Nathi Mthethwa.
The NEF is an agency reporting to Trade and Industry Minister Rob Davies. Its primary task is to provide support, including financial support, to so-called black empowerment businesses.
In a written reply to a parliamentary question, Davies revealed that Mthethwa's salary was R3,505,234 a year.
Macpherson said this was a R1,083,722 or 44.75 percent increase since last year, "despite the fact that the NEF hasn't been able to fulfil its mandate".
In May last year, due to serious financial constraints, the NEF board was forced to impose a moratorium on all new funding applications, leaving no money available to help new entrepreneurs. The moratorium was lifted only in May this year.
"The moratorium did not stop Mthethwa rewarding herself with bonuses, with the NEF's 2013/14 annual report revealing that [she] was awarded an amount of R1,593,288 titled 'bonuses & performance payments', and a further R637,315 which was a 'long-term bonus payment'," Macpherson said.
This was over and above her basic annual salary for that year.
"Mthethwa's total financial package for the 2013/14 financial year was therefore R5,208,143."
Macpherson said the question remained why -- if the NEF was subject to a moratorium for an entire year, rendering it unable to fulfil its core function -- its CEO was rewarded with over R2m in bonuses and a R1m salary increase.
"The NEF should be focusing all of its attention on helping new black-owned businesses to thrive and create jobs. Rewarding a failing CEO with massive payouts is exactly what it should not be doing.
"It is well known that Ms Mthethwa is a well-connected ANC deployee, showing yet again how the ANC is prepared to reward its cronies at the expense of ordinary South Africans."
Source : Sapa /rod/jk/jje/cls
Date : 13 Nov 2014 12:25
Her total financial package, including salary and more than R2m in bonuses, totalled R5,208,143 for the 2013/14 financial year, Democratic Alliance MP Dean Macpherson said in a statement.
Mthethwa is the wife of Arts and Culture Minister Nathi Mthethwa.
The NEF is an agency reporting to Trade and Industry Minister Rob Davies. Its primary task is to provide support, including financial support, to so-called black empowerment businesses.
In a written reply to a parliamentary question, Davies revealed that Mthethwa's salary was R3,505,234 a year.
Macpherson said this was a R1,083,722 or 44.75 percent increase since last year, "despite the fact that the NEF hasn't been able to fulfil its mandate".
In May last year, due to serious financial constraints, the NEF board was forced to impose a moratorium on all new funding applications, leaving no money available to help new entrepreneurs. The moratorium was lifted only in May this year.
"The moratorium did not stop Mthethwa rewarding herself with bonuses, with the NEF's 2013/14 annual report revealing that [she] was awarded an amount of R1,593,288 titled 'bonuses & performance payments', and a further R637,315 which was a 'long-term bonus payment'," Macpherson said.
This was over and above her basic annual salary for that year.
"Mthethwa's total financial package for the 2013/14 financial year was therefore R5,208,143."
Macpherson said the question remained why -- if the NEF was subject to a moratorium for an entire year, rendering it unable to fulfil its core function -- its CEO was rewarded with over R2m in bonuses and a R1m salary increase.
"The NEF should be focusing all of its attention on helping new black-owned businesses to thrive and create jobs. Rewarding a failing CEO with massive payouts is exactly what it should not be doing.
"It is well known that Ms Mthethwa is a well-connected ANC deployee, showing yet again how the ANC is prepared to reward its cronies at the expense of ordinary South Africans."
Source : Sapa /rod/jk/jje/cls
Date : 13 Nov 2014 12:25
