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Capitec CEO takes 33% pay cut, but still rakes in R62m

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Remuneration details in integrated annual report show the bank’s chief earned almost 200 times more than the average South African

Capitec CEO Gerrie Fourie took an effective 33% pay cut during the bank’s past financial year but still raked in more money over the 12-month period than most South Africans will make in their entire lifetimes.

The head of SA’s largest retail bank by customer numbers earned R62.09m during Capitec’s financial year to end-February, according to remuneration details contained in the group’s 2023 integrated annual report. That amount comprised guaranteed pay of R16m, benefits of R920,000, short-term incentives of R5.43m and long-term incentives of R39.74m...

 

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Gerrie after the decrease in remuneration

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