Highest tech CEO salaries in SA

Following the release of Vodacom‘s annual report this week, BusinessTech takes a look at what the tech industries top executives have been paid for their work in the last financial year.

Once again topping the list as the highest paid CEO in telecoms and tech, MTN‘s Sifiso Dabengwa ended the 2012/2013 financial year R23.5 million rand richer. This includes a base salary of R8.4 million, benefits of R1.678 million and a bonus of R13.45 million.

Altech head, Craig Venter, after a poor financial performance, decided to forego his bonus and walked away with R7.73 million in remuneration for the year, down from the R9.42 million earned the previous year.

Altron CEO Robbie Venter earned R11.164 million in remuneration for the year.

Vodacom Group’s CEO, Shameel Joosub took home R6.7 million in the last financial year – the lowest amount across the big tech companies in SA. However, Joosub only took up the position as Vodacom head from 1 September 2012, hence the remuneration reflects a seven month period.

Former Vodacom head, Pieter Uys, who is still on Vodacom’s books for the reporting period, earned the same as he did in the 2011/2012 period, taking home R7.16 million in compensation.

Blue Label‘s joint CEO’s Brett and Mark Levy – who didn’t take a bonus in 2011/2012 – earned R13.309 million each, including a R7.259 million bonus each.

CEO Company 2011/2012 Remuneration (Rmillion)
2012/2013 Remuneration (Rmillion)
Sifiso Dabengwa MTN Group 22.528 23.539
Mark Levy Blue Label Telecom 6.049 13.309
Brett Levy Blue Label Telecom 6.049 13.309
Craig Venter Altech 9.429 7.735
Shameel Joosub Vodacom Group 6.700 (for seven months)

While MTN’s head takes home the most remuneration in direct compensation, the highest paid CEO involved in tech is arguably Naspers chief executive, Koos Bekker.

Koos Bekker
Koos Bekker

Naspers billionaire

Nasper’s principal operations are in internet platforms, pay-television and the provision of related technologies and print media including publishing, distribution and printing of magazines, newspapers and books.

Locally, it owns online retailers, Kalahari.com and PriceCheck, pay television operation DStv, and Supersport, and Mweb. The group holds interests in Russian Internet firm Mail.Ru Group, and Chinese group, Tencent.

In terms of a special remuneration scheme at Naspers, Bekker has not received any direct compensation from the company for five years, starting in April 2008.

In lieu of remuneration Bekker was awarded 11.7 million Nasper N shares, which were paid over five years in instalments of 3.9 million shares after year two.

The final instalment of these shares is expected to be reported in the company’s results for the year ending March 2013, which is due to be published next week (25 June).

As of 31 March 2012, Bekker holds a total of 12,480,563 ordinary shares in Naspers, which at a current share value of R748.63 on the JSE (19 June 2013, 11h30am), equates to well over R9.3 billion in value.

Year-ended March 2011 Year-ended March 2012
Shares 8,584,627 12,480,563
Value* R6.426 billion R9.343 billion

*19 June 2013 at R748.63 on the JSE

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Highest tech CEO salaries in SA