Brown outlines State company board costs
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.
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.
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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