South Africa is the 5th country in the world with the biggest pay gap, where the CEOs are paid averagely 140 times more than the average salary of their employees. The gap reaches as high as 725 times.
Here are the top 10 highest paid CEOs in South Africa as of 2014.
10) Sifiso Dabengwa, R48 million (CEO of MTN)
The only black on the list. Sifiso N. Dabengwa joined MTN in 1999 and in March 2011, he became the CEO and president of MTN Group Ltd.
In 2013, he walked away with a huge compensation of more than R48 million; that is almost double the R23.5 million he received in 2012. In the annual report of the company, Dabengwa’s huge pay rise is attributed to share gains of R19.2 million, along with an elevated bonus and relatively small increase in base salary.
9) Whitey Basson, R50 Million (CEO of Shoprite)
James Wellwood “Whitey” Basson is holder of a Bachelor of commerce and also a Chartered accountant.
He is the Managing Director and CEO of Shoprite Holdings Ltd, the biggest food retailer in Africa. As of June 2014 its turnover was at R102, 204 billion, constituting over 1581 corporate stores in different brands in 15 countries with over 123,000 employees.