Top executives in at least 24 government-funded agencies were paid more than R3m in the 2017/18 financial year.
Dube Tshidi, the former head of the Financial Services Board, which is now known as the Financial Sector Conduct Authority, had the highest base salary of any top executive reviewed by GroundUp. Before any bonuses are taken into account, he was paid R5.6m in 2017/18; with bonuses, his pay rose to R7.3m.
The previous year, Watson was paid nearly R7m, despite the agency facing sharp challenges on his watch. In February 2017, the RAF had its bank account attached by the Sheriff of the Court over R8bn of unpaid debts to creditors. A month later, workers at the agency went on strike complaining of low wages and chaotic working conditions. In May 2017, the public protector’s office was investigating the RAF for maladministration. Watson’s term expired at the end of the following month.
Spokespersons for most of the agencies and departments named above did not provide comment by time of writing. An RAF spokesperson told GroundUp that the agency achieved 90 percent of its performance targets under Watson, and transformed, during his tenure, “from an institution perceived as incompetent, uncaring and wasteful into one driven by a pursuit of excellence in service delivery”.
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