MTN has released its integrated annual report for 2018, and you might want to avoid looking at your bank statement for a couple of hours after reading this article.
Trust me, your self-esteem can’t handle it.
The mobile operator is doing really well at the moment. They’ve seen a 10,7% jump in service revenue for the year, while revenue climbed 6% to R134, 56 billion.
This could be why they’re thinking of taking on Cell C, who have not fared as well.
Here’s BusinessTech:
Service revenue in MTN Nigeria grew 172%, MTN Ghana was up 23%, and MTN South Africa was up 4.2%.
Voice revenues grew 7.3% to R82.2 billion, data was up 22% to R28.5 billion, fintech grew 46.8% to R7.8 billion, but digital declined 32.9% to R3.9 billion.
Enterprise and wholesale grew by 8.4% and 63.7% respectively to R13.4 billion and R2.8 billion – and operating profit climbed to R23.6 billion, from R20.6 billion before.
The group also paid its top two executives a total of R65,46 million for the year, with other senior officers taking a combined R176,96 million for a total of R242,4 million.
That’s a lot of zeros.
Group CEO, Rob Shuter earned R42.92 million, including a basic salary of R15.28 million and bonuses and other benefits exceeding R26 million.
Chief financial officer Ralph Mupita earned R22.54 million, while MTN SA chief executive Godfrey Motsa took home R23.5 million.
You can check out how much each big earner took home here:
If you take into account that the average employee in South Africa earns R20 190 a month, or R242 280 a year, the gap is pretty huge.
The table below shows what MTN’s executives earned, and how that translates to an average per day salary.
Yep, MTN’s CEO earns R117 600 a day.
It’s a tough life, but somebody has to live it.
I told you not to check your bank statement…
[source:businesstech]
