Share

Mthethwa: At R5.2m SA's best paid official?

Cape Town - With a total package of more than R5.2m last year, National Empowerment Fund (NEF) head Philisiwe Mthethwa may well be South Africa's highest-paid public official, the DA said on Thursday.

Her total financial package, including salary and more than R2m in bonuses, totalled R5 208 143 for the 2013/14 financial year, Democratic Alliance MP Dean Macpherson said in a statement.

Mthethwa is the wife of Arts and Culture Minister Nathi Mthethwa.

The NEF is an agency reporting to Trade and Industry Minister Rob Davies. Its primary task is to provide support, including financial support, to so-called black empowerment businesses.

In a written reply to a parliamentary question, Davies revealed that Mthethwa's salary was R3 505 234 a year.

Macpherson said this was a R1 083 722 or 44.75% increase since last year, "despite the fact that the NEF hasn’t been able to fulfil its mandate".

In May last year, due to serious financial constraints, the NEF board was forced to impose a moratorium on all new funding applications, leaving no money available to help new entrepreneurs. The moratorium was lifted only in May this year.

"The moratorium did not stop Mthethwa rewarding herself with bonuses, with the NEF’s 2013/14 annual report revealing that [she] was awarded an amount of R1 593 288 titled 'bonuses & performance payments', and a further R637 315 which was a 'long-term bonus payment'," Macpherson said.

This was over and above her basic annual salary for that year.

"Mthethwa’s total financial package for the 2013/14 financial year was therefore R5 208 143."

Macpherson said the question remained why - if the NEF was subject to a moratorium for an entire year, rendering it unable to fulfil its core function - its CEO was rewarded with over R2m in bonuses and a R1m salary increase.

"The NEF should be focusing all of its attention on helping new black-owned businesses to thrive and create jobs. Rewarding a failing CEO with massive payouts is exactly what it should not be doing.

"It is well known that Ms Mthethwa is a well-connected ANC deployee, showing yet again how the ANC is prepared to reward its cronies at the expense of ordinary South Africans."

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.6%
Rand - Pound
24.00
-0.4%
Rand - Euro
20.52
-0.3%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.40
+0.4%
Palladium
998.40
-0.3%
Gold
2,212.97
+0.8%
Silver
24.70
+0.2%
Brent Crude
86.09
-0.2%
Top 40
68,068
+0.6%
All Share
74,264
+0.5%
Resource 10
56,909
+2.2%
Industrial 25
103,553
+0.3%
Financial 15
16,463
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders