Finance

The 100 highest-paid managers of African companies earned $396.6mln in revenues in 2020

The 100 highest-paid managers of African companies earned $396.6mln in revenues in 2020
Tuesday, 02 February 2021 19:28

The top 100 highest-paid managers in Africa-based companies earned a total compensation equivalent to $396.6 million, according to data collected on the Capital IQ platform. Out of this overall volume, gross salaries amounted to $261.4 million, and other compensation of all kinds reached $135.2 million.

The highest-paid manager in this ranking is Mohamed Shameel Aziz Joosub (pictured), Managing Director of Vodacom, the South African arm of the British group Vodafone. His cash salary is estimated at $36.2 million, but his total compensation is $54 million. He is followed by Peter Mugambi Gitonga, director of the Kenyan listed company Sameer.

A significant proportion of the top 100 highest-paid managers of listed companies in Africa are in South Africa and Mauritius. It is not easy to know how the compensation of executives and managers is decided. It depends very much on the internal policy of each company. While at Vodacom the standards of the British parent company are applied, this is not the case in other companies.

For example, the CEO of Vodacom is better paid than Ralph Mupita, Chairman and CEO of the MTN Group, who is paid only $4.7 million. Both are better paid than Simpiwe Kenneth Tshabalala, Managing Director of Standard Bank Group. The latter has only received $3.47 million in all compensations combined.

Executive compensation is monitored by investors. In South Africa, for example, there have been cases where executive pay proposals have not been validated. For all the companies concerned by this ranking, the cumulative turnover is $124.6 billion, according to calculations by the Ecofin Agency.

The remuneration of top management represents only 0.3% of this amount. Discussions in assembly for the remunerations of 2021, year post-covid-19, are to be followed.

Idriss Linge

On the same topic
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector could grow to $20 bln annually and create 20 mln...
• BRICS plans a guarantee fund to reduce political and financial risks in developing countries.• The fund will be managed by the New Development Bank...
BEAC granted Afreximbank the first-ever foreign access to the CEMAC public securities market. Cameroon raised $359.3 million via a...
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 92nd Ordinary Session on June 30, 2025. The Board...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
03

• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...

BOAD Grants CFA10 Billion to Revive Boungou and Wahgnion Gold Mines in Burkina Faso
04

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
05

• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...

Burkina Faso: Vista Group Acquires Controlling Stake in Société Générale
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.