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Highest Paid CEOs in South Africa

Daisy Neema
Daisy Neema Careers

CEOs are among the highest paid individuals in the corporate world. They are among the highest-ranking executives in a company due to their significant role. Some of their roles include making major corporate decisions, overseeing company operations, while they are also the main point of communication. The following are some of the highest paid Chief Executive Officers (CEOs) in South Africa.

1. Johan Petrus Burger

  • Company: FirstRand
  • Salary: R63.3m

Johan Burger was appointed CEO of FirstRand Limited in October 2015 and is the highest paid CEO in South Africa. FirstRand provides insurance, investment, lending, and banking services to retail, public sector, and corporate clients. He joined FirstRand in 1986 where he held various positions before he was appointed as the CEO. Johan’s total compensations at FirstRand amount to R63.3m.

Read also: Highest paying jobs in South Africa. 

2. Stephen Bradley Saad

  • Company: Aspen Pharmacare
  • Salary: R61.6m

Stephen Saad is the founder and CEO of Aspen Pharmacare. Aspen Pharmacare is the largest producer of generic medicines in Africa and it trades on the Johannesburg Stock Exchange. Bradley is among the highest paid CEOs in South Africa, earning a basic salary of around R61.6m. His overall remuneration (bonuses and shares) amounts to R17.51m.

3. Gerrie Fourie

  • Company: Capitec Bank Limited
  • Salary: R49m

Gerrie Fourie was appointed CEO of Capitec Bank Limited in 2014. Capitec Bank Ltd provides savings, credit facilities, online banking, and insurance services in South Africa. In 2021, Fourie’s total salary is R49 million. He is guaranteed other benefits like R31.8 million in long-term incentives.

4. Ian Alexander Moir

  • Company: Woolworths and Woolworths Holdings Limited
  • Salary: R30.6m

Ian Alexander was appointed Chief Executive Director of Woolworths and Woolworths Holdings Limited in November 2000. Woolworths operates in seven segments: Woolworths logistics, County Road Limited, Woolworths Foods, Woolworths Fashion, beauty, and Home, David Jones, Woolworths Financial Services and Treasury. Ian earns a basic salary of R18.9m and his total compensation is R30.6m, making him among the top paid CEOs in South Africa.

Read also: Home based business ideas in South Africa. 

5. Mike Schmidt

  • Company: African Rainbow Minerals (ARM)
  • Salary: R29.3m

Mike Schmidt is among the best paid CEOs in South Africa. He is the founder and CEO of African Rainbow Minerals (ARM), a company with an interest in ferrous metals, gold, base metals, and platinum. Schmidt joined African Rainbow Minerals in 2007 and earns R29.3 million.

6. Maria Ramos

  • Company: Absa Group Limited, South Africa
  • Salary: R16.6m

Maria Ramos is the CEO of Absa Group Limited and is among the best paid CEOs in South Africa. Absa is currently the largest bank in South Africa. She is also the chairwoman of the Banking Association of South Africa. It is reported that Maria earns R16.6 million.

7. JJ Durand

  • Company: Investment Holding Company
  • Salary: R13.9m

JJ Durand is among the highest paid CEOs in South Africa heading the Remgro Investment holding company. He is  currently the Chairman of Distell Group Holdings Limited, RCL Foods Limited and Rand Merchant Investment Holdings Limited. Durand earns a basic salary of about R13 million. Grants and bonuses increases the salary to R13.9 million.

Read also: Profitable business ideas in South Africa. 

8. Shameel Joosub

  • Company: Vodacom
  • Salary: R12.57m

Shameel Joosub is the CEO of Vodacom, a South African mobile communication company. He has a Bachelor of Accounting Science degree from the University of South Africa and a Master of Business Administration degree from the University of Southern Queensland. Shameel is a board member of Safaricom since 2017 and Vodacom. In 2020, Joosub earned a basic salary of R12.57 million with short-term incentives of R17.68 million.

9. Norbert Sasse

  • Company: Growth Point
  • Salary: R5.73m

Norbert Sasse is the CEO of Growth Point, a property company in South Africa. He has vast experience in corporate finance dealing with listings, delisting, acquisitions, capital raising, and mergers. He also has over 17 years of experience in the listed property market. Nobert earns a basic salary of R5.73m with total remunerations of about R25.3m, making him one of the top paid CEOs in South Africa.

Read also: Highest paying companies in South Africa.

10. Adrian Gore

  • Company: Discovery Limited
  • Salary: R6.59m

Adrian is the CEO of Discovery Limited, a medical insurer company and is among the highest paid CEOs in South Africa.  He earns a fixed salary of R6.59m with a total of R19m. Adrian is an alumnus of Wits University and Discovery Limited. He previously worked at Liberty Life, an insurance firm in South Africa.

Final Thoughts

South African CEOs are among the highest paid CEOs in the world. However, CEOs are paid varying salaries depending on the industry while their salaries vary based on experience, skills, and location. The above salaries are not the actual figures since they keep on changing from time to time.