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

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