South Africa’s highest-paid technology CEO is Jens Peter Montanana of Datatec, whose full salary package was R75.6 million for the 2020/21 financial year (FY).
Montanana’s salary for the financial year was more than double that of the next highest tech CEO – Altron’s Mteto Nyati – who earned R37.8 million in the same period.
Bob van Dijk, CEO of Naspers and Prosus, won a combined salary package of R30.2m – comprising R16.7m from Naspers and R13.5m from Prosus.
Naspers and Prosus recently announced a share buyback program whereby it will sell part of the group’s Tencent Holding shares to buy back its own shares.
The buyback program is to be funded by the sale of Tencent shares held by the group, and Van Dijk said it should increase the value of the group’s shares.
“It will also rebalance our asset base towards our fast-growing non-Tencent assets, which we expect to increase in value over time while maintaining exposure to Tencent’s significant value creation potential,” Van Dijk said. .
The announcement caused Chinese tech stocks to fall 2.9%, with Tencent shares fall 5.8%. Prosus’ share price has risen around 7.5% since then.
In total, there were eight companies listed on the Johannesburg Stock Exchange (JSE) whose CEOs received total compensation of over R10 million.
Howard Plaatjes of AYO Tech Solutions received R16.6m, Stephen van Coller of EOH received R14.5m, Pierre Spies of Alviva’s salary was R14.4m and the late David Kan – from Mustek – was paid 11.1 million rand.
Mustek announced that Kan, CEO and founder of its South African business unit, has deceased in May 2022.
Kan founded Mustek in 1987 after arriving in South Africa from Taiwan the year before.
He left a lasting impression on South Africa, especially with Mustek’s famous computer brand, Mecer, which became a household name in the personal and business computer market.
Ian Gregory Morris of Sebata Holdings, who received a salary of R735,000 for the 2020/21 financial year, was the lowest-earning technology CEO listed on the JSE.
JSE’s highest paid tech CEOs in the last fiscal year are listed in the table below.
|Technology CEO Compensation Packages|
|Datatech||Jens Peter Montanana||R75,583,919|
|Nasper||Bob van Dijk||R16,661,000|
|AYO technical solutions||Howard Plaatjes||R16,591,239|
|HEY||Stephen van Coller||R14,545,638|
|Adapt IT||Tiffany Dundon||R4,354,462|
|PBT Group||Elizna Read||R3,093,030|
|IS A||Clifford Katz||R2,952,000|
|Jasco Electronics||Warren Prinsloo||R2 888 140|
|Capital appreciation||Michael Pimstein||R2,816,000|
|Sebata Holdings||Ian Gregory Morris||R735,000|