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NEF CEO earns in line with sector peers

NEF CEO earns in line with sector peers

The misrepresentation of facts in a media statement attributed to the Democratic Alliance (DA) in respect of the remuneration of the Chief Executive Officer of the National Empowerment Fund is disappointing and unfortunate, says the Board of Trustees of the development financier.

“The CEO of the NEF is most definitely not the highest-paid public official, and her salary did not increase by 44,75%. Also, the CEO did not ‘reward herself with bonuses’, as claimed in the statement. As a public institution the NEF is transparent and accountable about the remuneration of its executives and trustees, and the details about this are published annually in the financial statements of the organisation,” says Acting Chairman of the Board of Trustees, Mr Rakesh Garach.


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