Numsa not happy with PetroSA CEO's R5 million salary

Numsa National General Treasurer Mphumzi Maqungo says it has noted the appointment of PetroSA CEO but are concerned about the high salary he will be getting.

The ailing state-owned company Kholly Zono has been appointed with a salary hike and a once-off compensation of R4.6m.

We are saying we need to reconstitute the board, especially all state-owned enterprises. How do we explain that one person can earn R5 million?

Mphumzi Maqungo, NUMSA National General Treasurer

READ: PetroSA employees face Hawks investigation

Ther has been a loss of R2.2 billion but how do you begin to pay an individual such amount instead of making sure this institution is sustainable.

Nhlanhla Gumede, PetroSA Board chair

Meanwhile, PetroSA board chair says they draw from the same pool international companies draw from for skills.

PetroSA is operating in an environment that is dominated by international companies that include big players. Unfortunately, we draw from the same pool in terms of staffing as well as international companies draw from.

Nhlanhla Gumede, PetroSA Board chair

READ: 'Problem child' PetroSA lost R14.5 billion in a year (on a single project)

So therefore if the going salaries in that place is number x and we are paying half x we are not going to be able to get the right set of skills into our company.

Nhlanhla Gumede, PetroSA Board chair

Listen to the full interviews below...


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Henri van Breda to learn his fate on Monday following appeal application

Henri van Breda to learn his fate on Monday following appeal application

Van Breda has brought an application for leave to appeal his conviction and sentence.

Gold Fields says it's left with no choice but to cut jobs

Gold Fields says it's left with no choice but to cut jobs

Gold Fields Spokesperson Sven Lunsche explains who will be affected by the job cuts.

PetroSA employees face Hawks investigation

PetroSA employees face Hawks investigation

It's alleged several employees at PetroSA were involved in dodgy procurement processes. They have not been formally charged yet.

PetroSA seals mega deal with Russian firm to help build SA's gas reserves

PetroSA seals mega deal with Russian firm to help build SA's gas reserves

The deal was signed on the sidelines of a Brics meeting in China and amounts to R5.1 billion.

New Energy Minister to probe unauthorised sale of strategic fuel stock

New Energy Minister to probe unauthorised sale of strategic fuel stock

Minister Mmamoloko Kubayi spoke about the sale of SA's strategic fuel stock without the sign off from National Treasury, and more.

'Problem child' PetroSA lost R14.5 billion in a year (on a single project)

'Problem child' PetroSA lost R14.5 billion in a year (on a single project)

It also sold South Africa’s oil reserves when prices were at an eight-year low. New Energy Minister Mmamoloko Kubayi is livid.

Popular articles
[LISTEN] IRR believes list of targeted farms is genuine

[LISTEN] IRR believes list of targeted farms is genuine

Institute for Race Relations researches Terence Corrigan explains why they believe the list Afriforum has released is genuine.

The UAE is pumping billions into the Horn of Africa

The UAE is pumping billions into the Horn of Africa

The Money Show's Bruce Whitfield interviews Africa correspondent Lee Kasumba

'Minnie understood he might become a target'

'Minnie understood he might become a target'

Marianne Thamm wrote the forward to 'The Lost Boys of Bird Island' and worked with Mark Minnie in editing the controversial book.

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

Khabazela shares Facebook posts, YouTube videos that have gone viral including one with the smartest dogs.

[LISTEN] Is your phone listening in on your conversations?

[LISTEN] Is your phone listening in on your conversations?

MD at World Wide Worx Arthur Goldstuck explains how your phone may record your voice conversations.

'Black Tax'... working hard, earning well, but struggling financially

'Black Tax'... working hard, earning well, but struggling financially

Young(ish) South Africans tell stories of the mixed emotions they feel when supporting family members, and tips from an advisor.

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Juan Sanchez shares stories of Fidel Castro that’ll make you re-examine everything you thought you knew about the Cuban dictator.