Given the ways in which poorly performing state-owned entities have been looted for financial gain, top government official remuneration raises serious questions about whether these salaries can be justified.
In what may be the best-paid job in the South African public sector, Road Traffic Management Corporation CEO Makhosini Msibi received remuneration of almost R9.3-million in the 2020/21 financial year. This is far higher than the annual salary of the President , the Chief Justice or a provincial premier .
The CEO of the Independent Regulatory Board for Auditors , Jenitha John, took home a total package of more than R6.4-million for just eight months’ work. In the same financial year, the Irba reported total revenue of just R190-million, with only 82 employees. The remuneration guidelines of the DPE state that “short-term incentives” – bonuses – should be benchmarked to performance. In the case of Msibi, the Automobile Association expressed particular outrage over his bonus, given that “the RTMC has failed to fulfil its core mandate of reducing road deaths in South Africa”.
It was also the case for the National Housing Finance Corporation, with CEO Sizwe Tati taking home a bonus of R2,544,000 despite auditor concerns, including the fact that “effective and appropriate steps were not taken to prevent irregular expenditure”. A report by financial services firm PwC on SA private sector executive pay over the 2020/21 financial year found that the median salary for CEOs of companies on the JSE during this period was R5.17-million.
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