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NEF denies CEO is SA’s highest paid official, WEEKLY, THE (Free State)

NEF denies CEO is SA's highest paid official, WEEKLY, THE (Free State)

The National Empowerment Fund on Thursday dismissed allegations from the DA that its CEO Philisiwe Mthethwa was probably the highest paid public official in the country. Acting chairman of NEF's board of trustees Rakesh Garach said claims that Mthethwa had received a 44.75 percent increase, bringing her salary to R5.2 million, were untrue. He said Mthethwa had received a 10 percent increase in April 2014. “Therefore on average the CEO of the NEF received an increase of five percent over the past two financial years;' Garach said in a statement. He also dismissed the Democratic Alliance's allegations that Mthethwa had given herself bonuses of more than R2m. Garach said only the board could give Mthethwa a bonus. “The board exercises this authority independently, and neither the CEO nor the executives of the NEF possess the operational authority to alter their remuneration or to grant themselves any performance rewards;' he said.


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