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Brown outlines State company board costs

Public Enterprises Minister Lynne Brown
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

21st October 2014

By: Creamer Media Reporter

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Public Enterprises Minister Lynne Brown has released details of the remuneration of the chairpersons and nonexecutive directors of the various State-owned company boards falling under her Ministry.

The remuneration costs, a PDF of which is attached, are based on figures published by the companies as of March 31, 2014.

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The tables show that Eskom chairperson Zola Tsotsi receives the highest yearly remuneration of over R1.7-million, while the utility’s 12-person-strong board is also the most costly to maintain at over R7-million a year.

It is followed by Transnet’s board, which costs R6.7-million a year, and South African Airways at R5.8-million.

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Surprisingly, Alexkor chairperson Rafique Bagus’ total cost to company, at R1.2-million, is higher than that of Transnet’s Mafika Mkwanazi, who costs the freight logistics group just over R1-million a year.

But Mkwanazi also sits on the Eskom board where his cost to company is R493 000 a year.

Details are also provided for the costs associated with maintaining the boards at Denel, Safcol, South African Express and Broadband Infraco.

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