PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Onthatile Mogotji
 
Comments: 4
Article views: 312
 
 
Latest Badges:

 
View all Onthatile Mogotji's badges.
 

Management salaries and benefits

13 June 2014, 11:11


Every person in South Africa talks about it, yet nothing is done about it, and companies seem to be able to justify the paying of it, yet we are heading for a recession of epidemic proportions in the country.

Management and more so Chief Executive Officers in South Africa are raking in the millions on a monthly basis, and with the fact that companies are obliged to report on the remunerations that it pays to management; some startling figures come to the fore.

The Chief Executive Officer of MTN, Sifiso Dabengwa in 2012 earned R 23, 5 million yet in 2014 his earning jumped to R 48 million. From previously earning almost R 2 million per month he now receives R 4 million per month.

But the story doesn’t end there:

Bennefor Magaro the Chief Executive of Lonmin, one of the mines where workers are striking earned R 12,9 million in salary and received an additional share-option of R 11,0 million totals his package at R 23,9 million.

The Chief Executive Officers of Escom (Brain Dames) earns R 8,4 million per year, Transnet’s (Brain Molefe) R 12,7 million, but to name but a few.

How does anyone justify paying someone R 4 million per month is beyond my wildest imagination. And to double his salary in one year makes it even more absurd to say the least.

We are in a country with very high unemployment figures with almost 4 out of 10 people being unemployed, yet we can pay people salaries which amounts to millions, instead of concentrating on the betterment of salaries for those that make it possible for the companies to be lucrative and profitable.

A sick balance of awarding people for their input would be appropriate to say.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Deon George
SAPS air wing unit: Killing the c...

If you claim to care about the people, flora and fauna of SA, then best you read this. Read more...

50 comments 1052 views
Minister Nene you're destroying t...

With increase in tax you were unfair, not justified too ambitious. Read more...

6 comments 599 views
Submitted by
Moses Mbunge
Proteas win over West Indies

Congratulations to the Proteas for such a remarkable and outstanding victory. Read more...

8 comments 87 views
Submitted by
Jean da Cruz
Betty's Bay fire

 Read more...

0 comments 242 views
Submitted by
tonycox
Of Musicians and Poverty

Zayn Adam joins a long list of SA artists meeting their end in poverty stricken conditions. Read more...

5 comments 238 views
Submitted by
Lee Grandmaison
BDSM as a craft

I was recently challenged over my usage of words in one of my articles in the comment section. The article in question is titled, "Kinky sex and checklists." Read more...

20 comments 483 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Deal of the week!

Petrol generators from R1399, save up to R350. While stocks last. Shop now!

30% off Pampers!

Save 30% when you buy 3 or more selected pampers products. While stocks last. Shop now!

This week only - 30% off books!

Get 30% off when you buy 2 or more books. Many titles to choose from. While stocks last. Shop now!

New range of Samsung smartphones!

Samsung Galaxy A3, A5 and Alpha now available at kalahari.com. while stocks last. Shop now!

Buy 3 eBooks & only pay for 2!

The cheapest of the 3 titles will be free. Many more titles to choose from. While stocks last. Shop now!

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2015 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.