Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Vodacom’s Maziv deal gets makeover ahead of crucial hearing

      18 July 2025

      Cut electricity prices for data centres: Andile Ngcaba

      18 July 2025

      Takealot taps Mr D to deliver toys, pet food and future growth

      18 July 2025

      ‘Oh, Ani!’: Elon’s edgy bot stirs ethical storm

      18 July 2025

      Trump U-turn on Nvidia spurs talk of grand bargain with China

      18 July 2025
    • World

      Grok 4 arrives with bold claims and fresh controversy

      10 July 2025

      Samsung’s bet on folding phones faces major test

      10 July 2025

      Bitcoin pushes higher into record territory

      10 July 2025

      OpenAI to launch web browser in direct challenge to Google Chrome

      10 July 2025

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025
    • In-depth

      The 1940s visionary who imagined the Information Age

      14 July 2025

      MultiChoice is working on a wholesale overhaul of DStv

      10 July 2025

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025
    • TCS

      TCS+ | Samsung unveils significant new safety feature for Galaxy A-series phones

      16 July 2025

      TCS+ | MVNX on the opportunities in South Africa’s booming MVNO market

      11 July 2025

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025
    • Opinion

      A smarter approach to digital transformation in ICT distribution

      15 July 2025

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » MTN paid chairman R72m in 2016

    MTN paid chairman R72m in 2016

    By Loni Prinsloo30 March 2017
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Phuthuma Nhleko

    MTN Group awarded executive chairman Phuthuma Nhleko R72,2m in pay and bonuses last year after he negotiated a reduced fine with Nigerian regulators and shook up senior management.

    Nhleko, 56, was paid a R30m salary and a R38,2m bonus, Africa’s biggest mobile phone company said in its annual report published on Thursday.

    The balance was a fee for simultaneously holding a role as nonexecutive chairman.

    Nhleko retook the leadership of the Johannesburg-based company on the short-term basis in November 2015 following the resignation of CEO Sifiso Dabengwa.

    “In order to take on this full-time executive role at short notice, Mr Nhleko was required to commit 100% to the MTN task and step away for 16 months from all his considerable other various commercial interests,” the wireless operator said.

    “The board negotiated an appropriate monthly fee and performance-related cash bonus contract with him.”

    The compensation was agreed with the businessman after he was hired to take over from Dabengwa, who took responsibility for the fine in Nigeria, MTN’s biggest market.

    The penalty was levied for missing a government deadline to disconnect subscribers who were found to be unregistered in the country, which is battling an Islamist insurgency.

    The fine was originally set at US$5,2bn, of which MTN eventually paid $1bn. Nhleko also hired new CEO Rob Shuter, who joined from Vodafone Group earlier this month. He’s now back to being nonexecutive chairman and will quit altogether next year.

    Shuter has been handed a four-year contract, according to the annual report, which didn’t specify the CEO’s salary.

    Nhleko’s achievements at MTN also included repatriating funds from Iran, reviewing corporate governance standards and implementing a new programme designed to benefit those discriminated against during apartheid, the company said. The pay deal comes on top of R123m the executive earned by selling shares late last year.

    MTN shares were little changed at the close in Johannesburg at R123,25, valuing the company at R232bn. The stock is 35% below levels before the Nigeria fine was implemented.

    Outside MTN, Nhleko is the co-founder of black empowerment investment company Phembani Group, which i s bidding for coal mines owned by Anglo American.  — (c) 2017 Bloomberg LP

    • See also: MTN bosses raked in millions


    MTN Phuthuma Nhleko Rob Shuter Sifiso Dabengwa
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleMTN bosses rake in millions
    Next Article Zuma’s night of the long knives

    Related Posts

    Mobile money lifts Africa savings to decade high

    17 July 2025

    MTN Group appoints new chief enterprise officer

    16 July 2025

    South Africa’s telcos battle to monetise 5G as 4G suffices for most

    15 July 2025
    Company News

    Vertiv to acquire custom rack solutions manufacturer

    18 July 2025

    SA businesses embrace gen AI – but strategy and skills are lagging

    17 July 2025

    Ransomware in South Africa: the human factor behind the growing crisis

    16 July 2025
    Opinion

    A smarter approach to digital transformation in ICT distribution

    15 July 2025

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.