Vodacom Group CEO Shameel Joosub received a 15.2% bump to his total remuneration package in the financial year ended 31 March 2025, taking his pre-tax pay to R71.1-million.
This marked an increased from the R61.7-million in total pay – including short-term incentives – he received in the 2024 financial year.
Joosub’s pay package was disclosed in the JSE-listed telecommunications group’s annual report, which was published on Friday. The report shows that Joosub was paid:
- R18.4-million in guaranteed pay, up 6% from the R17.4-million he received in 2024;
- R21.5-million in short-term incentives, up 4.1% from the R20.6-million in STIs he received in the prior year; and
- R5.8-million in dividends, a decline of 8.9% from 2024.
He also received R25.1-million in long-term incentives that vested in the period, including R4.4-million in Vodacom parent Vodafone Group shares and another R20.7-million award through Vodacom’s conditional share plan.
Read: Vodacom’s new target: 260 million subscribers by 2030
Though it’s not known how much tax Joosub paid on his total remuneration in the 2025 financial year, Vodacom said that if he paid tax at the maximum rate of 45%, he would be liable to hand over R39.1-million to the South African Revenue Service.
Vodacom’s chief financial officer, Raisibe Morathi – the only other executive director on the group’s board – received total pay in 2025 of R31.4-million, according to the governance disclosures in the annual report.
Morathi’s pay was made up of:
- R11.3-million in guaranteed pay, up 6% from 2024’s figure of R10.7-million;
- Short-term incentives of R8.9-million, down 6.3% from R9.5-million previously; and
- R1.5-million in dividends, up 127% from R665 000 before.
Morathi also received R9.4-million in long-term incentives, up 32% compared to the previous financial year.
Read: Vodacom appoints new CEO to lead international markets
Vodacom Group chairman Saki Macozoma was paid R3.9-million for his services, up from R3.7-million in the year before. Total pay to Vodacom’s non-executive directors totalled R14.6-million, up from R13.3-million previously. – © 2025 NewsCentral Media
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