24 executives in government funded agencies have been revealed to be the highest earners in the financial year 2017/18. All were paid more than R3 million, higher than the president of South Africa.
GroundUp analyzed official reports from more than 100 “Schedule 3A” entities; these include bodies such as South African Revenue Service, the National Lotteries Commission, and South African National Parks. 153 such entities exist, of which GroundUp traced reports from 111 of them.
These agencies have varying degrees of autonomy from government despite being publicly funded.
From the 111 agencies analyzed, the average top executive pay was R2.5-million, which is surprisingly more than the average pay of the minister to whom they report. Their pay is fattened by the lavish bonuses they receive, and the significant allowances allocated to them.
Department of Transport took the lead when it came to average pay, with the 8 top executives at the different agencies within it earning on average R4-million.
The next highest averages fell under Treasury and the Department of Human Settlements.
When it came to the highest paid executive, Samson Moraba, CEO of the National Housing Finance Corporation, which works on affordable housing models for low- and middle-income South Africans, took the prize.
Moraba went home with nearly R9 million, which is inclusive of a R4.1-million bonus. Interestingly, he took home a similar bonus the previous year.
Makhosini Msibi, CEO of the Road Traffic Management Corporation, was another top earner, taking home just under R8-million in 2017/18, including a R2.7-million bonus.
Here are the top executives who earned more than R3-million in 2017/18.