Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

Telkom SA pays big to keep CEO around longer

Article Image
It seems that Telkom South Africa CEO Sipho Maseko has been wanting to leave the company for a while, with the operator paying him R20 million (US$1.34 million) to stick around for an extra two years.

That's according to Telkom SA's integrated report, published on Monday, which shows that Maseko was paid a R10 million ($670,350) "retention" amount in the financial year ending March 31, 2021.

Telkom said that another R10 million will be payable to him in the current financial year which ends in March 2022.

Maseko's total salary for last year – including the R10 million retention amount and other benefits – was R35.4 million ($2.38 million), a 62.5% increase from R21.8 million ($1.46 million) he was paid the previous year.

His guaranteed package before all of the additions was R8.8 million ($592,000) for the year, the same as a year before.

Last week, SA's third-biggest mobile operator announced that Maseko would be stepping down after eight years at the helm, but would only leave the group on June 30, 2022.

"I feel now is the right time for me to step aside and make way for a new leader who will take Telkom to even greater heights," Maseko said.

Telkom said the process to appoint a successor is well underway and a new leader will be announced in the not too distant future.

Maseko is credited with much of Telkom's success over recent years, transitioning the business from a traditional fixed-line player into a contender in the mobile market while also diversifying the business to pull in revenues from IT, digital services, wholesale infrastructure and its masts and towers portfolio.

Related posts:

*Top image is of Telkom South Africa's Group CEO Sipho Maseko (Source: Telkom).

— Paula Gilbert, Editor, Connecting Africa

Innovation hub

New develoPPP Ventures funding program for SA startups

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has launched develoPPP Ventures, a new funding scheme offering up to €100,000 (US$106,950) for successful startups in South Africa.


Huawei using SA data centers to extend AI cloud adoption

Chinese multinational Huawei is using its three data centers in South Africa to extend artificial intelligence (AI) cloud adoption in the country.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Cyber Revolution Summit
August 9, 2024
Gaborone, Botswana
Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives


Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.


The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.


Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives


Omdia View: May 2024

By Omdia Analysts

May 2024's telecoms highlights in the Middle East and Africa included African 5G subscriptions surpassing 5 million, growth from SpaceX's satellite Internet service Starlink, and a major fiber partnership in the Middle East and North Africa.


How e-mobility could transform Africa's transport sector

By Francis Hook

ICT analyst Francis Hook delves into Africa's e-mobility sector and unpacks the challenges faced locally and the benefits the move to electric vehicles could bring to urban transport systems.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up

Sign Up
Tag id test-002