MTN CEO’s R84-million pay-day

MTN has published its annual integrated report for 2021, revealing the remuneration of its most senior staff, including MTN Group president and CEO Ralph Mupita, and outgoing MTN SA CEO Godfrey Motsa.

Mupita previously served as the group’s chief financial officer before taking over the reins from Rob Shuter in September 2020.

In that year, he received remuneration of R36.1 million, compared to the roughly R84.2 million he was paid in 2021.

Mupita’s remuneration comprised the following amounts:

  • Salaries — R15.4 million
  • Post-employment benefits — R701,000
  • Other benefits — R961,000
  • Short-term incentives — R29 million
  • Long-term incentives — R38 million
  • Qualifying dividend — R385,000

MTN explained the difference in remuneration could be attributed to his promotion and improved performance outcomes between the two years.

The performance metrics supporting the significant increase include MTN’s service revenue going up by 18.3%, EBITDA climbing 23.7%, adjusted headline earnings per share increasing by 26.6 percentage points and net operating cash flow also rising by 32.2 percentage points.

Ralph Mapita, MTN Group President and CEO

MTN also provided a breakdown of the remunerations of other prescribed officers, including outgoing MTN South Africa CEO Godfrey Motsa.

Motsa served for almost five years before stepping down in December 2021, with chief technology and information officer Charles Molapisi taking over his role from January 2022.

For his last year at the company, Motsa received total remuneration of R51.4 million, more than double the R21.7 million he earned in 2020.

His main salary increased by 2.6% — from R7.4 million to R7.6 million.

The most significant contributors to the increase were long-term incentives growing by more than R18 million, while his other benefits payout was over R11 million more.

The tables below show a breakdown of the remuneration of MTN Group’s executive directors and prescribed officers in 2020 and 2021.

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MTN CEO’s R84-million pay-day