MTN Group CEO Ralph Mupita earned total remuneration in the 2021 financial year of R84.2-million – and he wasn’t the only top executive handsomely rewarded for their work.
Ralph Mupita earned total remuneration in the 2021 financial year of R84.2-million, the telecommunications giant’s integrated annual report, published on Monday, shows – and he wasn’t the only one of its top executives to get handsomely rewarded for their work.
“The difference of remuneration received in 2021 compared to 2020 was attributed to improved performance outcomes between the two years and his promotion to group president and CEO, effective 1 September 2020,” MTN explained in the report.Between 2020 and 2021, service revenue improved by 18.3% to R171.8-billion, while earnings before interest, tax, depreciation and amortisation – a measure of operating profit – jumped by 23.7% to R80.8-billion.
“The increase in LTI reflected between 2020 and 2021 financial year is due to the improved performance conditions outcomes and the group share price performance between the two periods as at settlement dates,” MTN said.Chief financial officer Tsholofelo Molefe, meanwhile, received total remuneration of R23.9-million, made up of a salary of R6.5-million, short-term incentives of R11-million and a sign-on bonus of R5.8-million .
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