CEOs at South Africa’s state-owned enterprises(SOEs) rake in so much money for their work, with top executives taking home between R2 million and R5 million a year.
Gwede Mantashe, Mineral Resources & Energy Minister, revealed in a parliamentary Q&A how much these execs get paid, he broke down the payouts for CEOs and top executives.
The salaries reflect SOEs within the Department of Mineral Resources and Energy only.
The highest paid CEO is of the Central Energy Fund Group, who takes home R5.3 million annually. The secretaries of the enterprises are lowest earners among the executives, pulling in about R1.2 million a year.
While CEOs are the top earners in state companies, they are by no means the only ones pulling in million rand salaries, CFOs are on their toes, earning between R1.4 million and R4.2 million.
While operations managers earn between R1.6 million and R3.8 million; and regulators can earn around R2.2 million a year.
The table below outlines the top earning executives:
