Vodacom CEO Pieter Uys now earns R1.3m a month, yes you read that right. R1.3 million a MONTH! Uys’s salary, including benefits and bonuses, totalled R16.5 million in the 12 months to March – including a short-term incentive or bonus. His basic salary saw an increase of 5.3%, compared to the previous year, to R7.08 million, while his bonus saw an increase of 46%, to R9.43m.
South Africa’s Vodacom, which is majority-owned by England-based Vodafone, had a 23 percent increase in full-year net income to R10.1 billion as customer numbers in the company’s five national markets jumped 30 percent to 47.8 million.
Sipho Maseko, the former MD of Vodacom SA and COO of Vodacom’s South African unit, received R8.6m for the seven months of the fiscal year that he worked for the group. Included in Maseko’s salary was a R2.7m “sign-on” payment to compensate him for a bonus he would have received at his previous employer, BP. But Maseko left Vodacom to focus on other interests.
So, you see comrades, capitalism has really damaged our country. If you work hard and bring money into your company this is what happens. We can not have such happenings, we can only wait for government to feed us and give us jobs. We can’t expect to build our own companies or study and pursue such dreams of success and wealth. Capitalism damages us.