MTN Group CEO Ralph Mupita bagged over R70 million in 2023 – despite taking a hit due to missed targets.
MTN Group paid its chief executive officer, Ralph Mupita, R70.64 million in the 2023 financial year—R5.1 million less than the R75.8 million he was awarded the previous year.ending 31 December 2023, the Group noted that, despite MTN’s increasing revenue and customer base, its earnings and profits dropped significantly due to the massive devaluation of the Nigerian currency.sharp devaluation of the Naira during the period impacted our reported results for MTN Nigeria and MTN Group,” said Mupita.
The Group added executive director and prescribed officer performance, measured against a mix of KPIs. Compared to the previous financial years, Mupita’s remuneration in 2023 was significantly less than the R75.8 million he received in 2022 and the R84 million he received in 2021. “The KPIs that exceeded the internal targets were delivery in the ESG targets, employee engagement and diversity, brand health and the management of the risk and regulatory environment,” it added.CEO South Africa pay
Molapisi’s remuneration in 2023 included a basic salary of R8.19 million, short-term incentives , and awarded long-term incentives , among other things.
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