R2m bonus for fund boss

CIVIL SERVANT: EARNS MORE THAN PRESIDENT RAMAPHOSA, CLAIMS DA

‘Remuneration is in accordance with industry practice to keep top staff.’

Democratic Alliance (DA) trade and industry spokesperson Dean Macpherson stood by his comments that chief executive officer of the National Empowerment Fund (NEF), Philisiwe Mthethwa, is the highest-paid civil servant and earns more than the president.

Macpherson said yesterday, in the wake of the NEF board of trustees’ statement that his comments were unfounded and misleading, there was nothing unfounded about the NEF struggling to provide financial support to black entrepreneurs.

“What is unfounded or misleading about what I said?

“Is it not a fact that she earned a R2 million bonus while the NEF is struggling to support blackowned businesses?

“The NEF does not have the financial capital to execute its mandate yet she is earning a R6 million salary. Does he expect us to be grateful for that,” he said, referring to NEF board of trustees chairperson Rakesh Garach.

On Wednesday, Garach disputed that Mthethwa’s remuneration was excessive and that she was the highest-paid civil servant.

“The CEO of the NEF is most definitely not the highest-paid public official,” said Garach.

He said that as a public institution, the NEF was transparent and accountable about the remuneration of its executives.

“In accordance with standard industry practice, the NEF remunerates high-performing employees between the 50th and