SABC boss got R877,000 bonus for “hard work”
SABC acting CEO Nomsa Philiso earned an R877,000 bonus for the year ended March 2016. According to the City Press, Philiso’s total package for the year was R3.3 million, which included the bonus. The report stated that the SABC said she earned the bonus through “sheer hard work”.
The payment follows the broadcaster posting a R977-million loss after tax for the 2016/17 financial year. SABC spokesperson Kaizer Kganyago told the City Press that Philiso earned the money while heading up the broadcaster’s sales operations unit. This saw her qualify for an incentive scheme for employees who meet annual targets.
DA spokesperson Phumzile van Damme asked the broadcaster in Parliament how it could pay a bonus or commission of almost R1 million while the company was making huge losses.
SABC chief financial officer Thabile Dlamini said the incentive scheme is available to 300 employees, who have annual targets set for them. If the targets are reached, a specific formula to calculate “the overperformance that has to be paid out” is used. Philiso’s bonus was an overlap of the 2014/15 fiscal year, which “was a good year in terms of performance for commercial enterprises”, stated the report.
The SABC’s latest financial report states that its net loss for the year ending March 2017 more than doubled from R412 million in 2016.
Revenue also declined from R8.1 billion in 2016 to R7.6 billion.
- ^ City Press (www.news24.com)
- ^ R977-million loss (mybroadband.co.za)
- ^ Government has identified potential buyers – Telkom (mybroadband.co.za)