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The Citizen
10 hours ago
- Business
- The Citizen
Pick n Pay CEO receives the highest salary in retail. Here's how much others get
The lowest-paid CEO in grocery retail is Marek Masojada, CEO of Boxer, with R5.6 million, while the highest-paid is Sean Summers (pictured), CEO of Pick n Pay, with R24.9 million. At the top of the corporate ladder, the CEO stands as the face of pressure and power, a single person trusted with steering a company through stormy seas of inflation, consumer hesitancy and relentless competition. Those at the helm of retail companies are paid handsomely due to several factors, including qualifications, experience and responsibilities. These are the people whose vision keeps customers walking through the doors despite the crushing cost of living. The lowest-paid CEO in grocery retail is Marek Masojada, CEO of Boxer, with R5.6 million, while the highest-paid is Sean Summers, CEO of Pick n Pay, with R24.9 million. How do grocery retailers pay? Those who are on the sales floors, in the stockrooms and behind the registers receive significantly less pay despite them being the people who grind through the chaos, carry out plans and turn PowerPoint strategies into tangible success. Is it truly fair that those who ensure the vision comes to life earn a fraction of what the visionary earns? The Companies Amendment Act, signed into law in July 2024, requires public and state-owned companies to disclose the earnings of their top and lowest employees. The Citizen attempted, with no success, to obtain the breakdown of how much the lowest-paid employee in each of six prominent grocery retailers in South Africa earns, as well as their positions. Enquiries were sent out earlier in the week. ALSO READ: Is Boxer taking over, or is trouble brewing? Lowest-paid CEO in grocery retail According to Boxer's financial results for the 53 weeks ended March 2025, its CEO, Marek Masojada, received a basic salary of R5.6 million. His total remuneration was R18.5 million. The total remuneration includes basic salary, retirement and medical contributions of R1.1 million, benefits of R300 000 and a short-term performance bonus of R11.5 million. The financial results outlined that Boxer has a total of 31 906 employees. The retailer spends nearly R3.1 billion paying these employees, representing a 19.1% increase from the R2.5 billion spent in the previous financial year. ALSO READ: Pick n Pay turnaround taking shape as it delivers on first year of recovery plan Highest paid with no benefits According to Pick n Pay's financial results for the 53 weeks ended 2 March 2025, the man responsible for restoring the retailer's glory, Sean Summers, received a basic salary of R24.9 million. Unlike other CEOs who receive benefits, retirement contributions and medical benefits, as well as short-term performance bonuses, Summers does not receive these. However, he got a whopping R40.1 million in long-term awards. Pick n Pay said that employee costs increased by 1.1% to R6.4 billion during the period, up from R6.3 billion in the previous financial year. ALSO READ: What does the future hold for Spar? Retailer's profits nosedive R16 million for Spar CEO Spar seems to include the remuneration of executives and staff in its annual financial results, which are released towards the end of the year. However, The Citizen reached out, with no success, to the retailer to get the figures for 2025. According to the retailer's annual financial statements for the financial year 2024, released on 28 November 2024, Spar's CEO, Angelo Swartz, got paid a basic salary of R9.5 million. During the period, he received a performance-related bonus of R4.3 million, retirement funding contributions of R1.1 million, and allowances and other benefits totalling R1 million, costing the retailer R16 million in remuneration. ALSO READ: How Shoprite made R20 million profit per day Shoprite and Checkers led by one man Shoprite and Checkers are led by one man under Shoprite Holdings. The Citizen was unable to get the remuneration report of the group for 2025. According to the financial statement for 2024, the group's CEO, Pieter Engelbrecht, received a salary of R18 million. Apart from the salary, he received retirement and medical benefits of R500 000, benefits worth R919 000, a short-term performance bonus worth R17 million and a long-term incentive bonus worth R14.3 million, making his total cost to the company of R52 million. ALSO READ: Is Woolworths in trouble? CEO said financial performance 'disappointing' Woolies CEO Woolworths' annual results for the year ended June 2024 show that the total remuneration for its CEO, Roy Bagattini, in 2024 was R65.29 million. The breakdown of his remuneration package includes the base salary of R19.39 million and benefits worth R2.5 million. Additionally, he received both short-term and long-term incentives. NOW READ: Capitec CEO tops banking pay charts — but how do staff salaries compare? A look at how SA's top five banks pay
The Citizen
15-05-2025
- Business
- The Citizen
SIU investigating water contracts worth R6 billion
The Special Investigating Unit has had 14 water projects under scrutiny since 2012. The Special Investigating Unit (SIU) is leading the compliance fight to solve South Africa's water crisis. A newly launched Water Sector Anti-Corruption Forum (WSACF) held its first meeting to celebrate the SIU's work in the water sector. The forum is a part of a national anti-corruption strategy that focuses on protecting public projects vulnerable to corruption. New anti-corruption forum As South Africa's foremost anti-corruption arm, the body is obligated to lead the forum, which falls under a greater G20 anti-corruption umbrella. 'The WSACF is a strategic intervention aimed at developing tailored solutions to address corruption risks in the water sector,' stated SIU spokesperson Kaizer Kganyago. This week, the SIU announced the collective outcomes of almost 13 years of investigations into the country's water projects. The SIU has investigated 13 water projects since 2012 and has one outstanding proclamation that still needs to be executed. 'With eight investigations completed and five still active, the need for a coordinated anti-corruption response in water management has never been clearer,' Kganyago added. SIU successes From the investigations, the SIU has recovered R569 million in undue gains, while R264 million in cash and asset recoveries are still pending Potential losses prevented are listed at R717 million, as the SIU boasts that contracts worth R1.1 billion have been set aside. The value of contracts under the microscope has been massive, with R6.2 billion worth of contracts signed since 2012 flagged for irregular or fraudulent actions. Consequences secured by the SIU include 270 matters being referred to the National Prosecuting Authority (NPA), as well as 140 referrals for disciplinary or administrative actions commissioned against business executives and government officials. Affected projects The Umngeni-Uthukela water project is responsible for 61 of those NPA referrals, with the matters currently with the Hawks. The 61 cases are tied to contracts worth R465 million for work ranging from the installation of pipelines to the replacement of filter slabs. A further 38 NPA referrals for fraud and forgery were tied to the Amatola Water Board, where R230 million was allocated for drought relief. Large private sector players linked to SIU investigations include four contracts with construction giants EOH, which has since repaid R160 million. 'EOH accepted liability without prejudice for R178 million. The repayment arrangement was a lump sum of R65 million, and a balance split into 36 monthly installments of R3.5 million,' the SIU stated. NOW READ: At least R900 billion needed to fix SA's water woes
The South African
12-05-2025
- The South African
Woman accused of torching Kelly Smith's home granted R500 bail
The woman accused of burning down the house of Kelly Smith has been granted R500 bail in the Vredenburg Magistrate's Court. According to EWN , the incident occurred on Friday, 2 May 2025, hours after Kelly Smith was found guilty of kidnapping and human trafficking. Smith was convicted alongside two co-accused, her boyfriend, Jacquen Appollis and their friend, Steveno van Rhyn. It is alleged that the three sold Joshlin Smith for R20 000. The then-six-year-old Joshlin disappeared from her home in Saldanha Bay in February 2024 and is yet to be found. Monique Kekana was arrested on Friday, 2 May, for arson, on the scene in Middelpos, Saldanha Bay. The 27-year-old woman told Newzroom Africa that she is happy to be released because she was scared. The woman said that she had heard a lot of terrifying stories about Pollsmoor prison. Kekana told the court that the reason she burnt the place was because she wanted justice for Joshlin. Although she admitted guilt to the police, Kekana plans to plead not guilty to the charges. The woman said she burnt the place because she is also a mother. 'I was a little bit drunk, but I did it. I don't have any regrets because what I did, I did it for Joshlin and for justice for the child,' she said. The case has been postponed until 27 June 2025. A 48-year-old SAPS sergeant was granted R500 bail by the Gqeberha Magistrate's Court. Nomvuyiseko Somekete from Kabega Park police station was arrested for 16 counts of fraud charges. On Wednesday, 7 May 2025, Somekete was arrested for allegedly committing fraud by taking out 16 fake life insurance policies totalling over R1.1 million. She was released on R500 bail the following day. It is alleged that she impersonated relatives, claiming to be the victims' aunt, cousin, mother, and even wife, to cash in on the policies without their knowledge. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news
The South African
12-05-2025
- The South African
Gqeberha cop granted R500 bail after alleged R1.1 million fraud
The Gqeberha Magistrate's Court granted 48-year-old SAPS sergeant Nomvuyiseko Somekete from Kabega Park police station R500 bail following her arrest on fraud charges. Police arrested Somekete on Wednesday, 7 May 2025, on fraud charges. It is alleged that she took out 16 fraudulent life insurance policies valued at more than R1.1 million. She was released on R500 bail on Thursday, 8 May 2025. According to Algoafm , Somekete posed as the victims' aunt, mother, cousin, and even wife to secure the payouts without their knowledge. The South African Police Service confirmed her arrest. SAPS stated that internal disciplinary steps would follow based on the court's findings. The court postponed the case to 24 July 2025 to allow further investigation. A 42-year-old man suspected of involvement in the murders of three initiates in Ngqamakhwe was found dead in his holding cell at Gelvandale police station. Eastern Cape SAPS confirmed that the suspect was arrested on Wednesday, 7 May 2025, and detained at the Gqeberha-based station. Later that same day, officers discovered his body in the cell under what police have described as 'unclear circumstances.' Police reportedly linked the deceased suspect to the murders of three young initiates during the 2023 initiation season in Ngqamakhwe. In response to the suspect's death in custody, Eastern Cape police have opened an inquest docket and handed the matter over to the Independent Police Investigative Directorate (IPID) for a full investigation. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news
The Citizen
09-05-2025
- The Citizen
Online gambling and betting advertising is non-compliant with Gambling Act — minister
South Africans have noticed that gambling and betting advertising is getting very intrusive, but there are plans for better regulation. Minister of Trade, Industry and Competition, Parks Tau, has confirmed in parliament that the advertising for online gambling and betting does not comply with the National Gambling Act, but emphasised that a crack-down is coming. He was responding to a question from Makashule Gana, an MP for Rise Mzansi, whether the recent advertising and marketing campaigns of gambling and betting companies comply with the National Gambling Act and related regulations and policies. Tau said in his reply that the National Gambling Board reviewed recent gambling and betting advertising campaigns to see if they comply with the National Gambling Act and National Gambling Regulations. 'The findings indicate that a number of gambling operators' current advertising and marketing practices do not fully comply with the legislative and regulatory framework, particularly regarding responsible gambling messaging and protection of minors. ALSO READ: Did you know online gambling is illegal in SA? Here are plans to stop it Online gambling and betting skipping statutory warnings Tau said online gambling operators are contravening regulation 3(2) of the National Gambling Regulations about the inadequate display of responsible gambling warnings, which requires that any advertisement must include a clear and prominent statement warning against the dangers of addictive and compulsive gambling. In a video or television advertisement, this message must incorporate at a minimum the name, toll-free number and slogan of the National Responsible Gambling Programme, and it must be published in visual format so that each slogan appears in a legible and noticeable format for at least three seconds. 'The responsible gambling message was barely visible and appeared only briefly, which undermines the intent of the regulation.' ALSO READ: R1.1 trillion worth of online bets in a year: Does SA need to rein in digital gambling? Children exposed to online gambling and betting advertising He said online gambling operators also contravened regulation 3(1)(i)(i) of the National Gambling Regulations in these ways: Exposure to minors: prohibits placing gambling advertisements in media primarily directed at children under the age of eighteen, but the Board noticed that advertisements are frequently aired during family viewing times, including during popular shows, such as MasterChef and Junior MasterChef, as well as during sports matches where the audience is likely to include minors. Tau says this is contrary to the Act, which prohibits gambling for individuals under 18. Advertising during these time slots also increases the risk of normalising gambling behaviour among young viewers. Targeted online and streaming advertising: Tau said gambling advertisements were observed on radio streaming websites and platforms such as YouTube, often without responsible gambling disclaimers. These platforms do not adequately verify the age of users, allowing easy access to gambling content by minors. 'This raises serious concerns regarding the enticement of underage children to participate in gambling activities,' he said. Sponsorship and product placement: the sponsorship of family-friendly programmes by major bookmakers results in increased visibility and frequency of gambling advertisements during television content widely consumed by minors and families. Tau said this form of marketing bypasses regulatory intentions to protect vulnerable groups from gambling influence. Tau said the board engaged the provincial gambling boards about the contraventions and intends to advise the National Gambling Policy Council Meeting of the matter for resolution. 'Therefore, the department and the board will focus on implementing corrective measures in the next cycle.' ALSO READ: 'Let's make gambling safer': New bill targets unfair online gambling practices National Gambling Policy Council stepping up soon Gana also wanted to know whether Tau found that the lack of National Gambling Policy Council meetings since March 2018 contributed to the gambling crisis and lack of accountability in the gambling and betting sector. Tau said he will convene the National Gambling Policy Council soon. 'Gambling is a functional area of concurrent competence between national and provincial government in terms of the constitution, and therefore requires intergovernmental cooperation. 'The statutory mandate of the Council in terms of section 62 of the National Gambling Act includes consulting on the determination and establishment of the national gambling policy and laws, including the promotion of uniform national and provincial laws about gambling norms and standards, as well as any matter concerning gambling.' The Council enables provinces and national government to debate and deliberate on policy and ensure alignment of policy and enforcement interventions across the country. Tau said that with the gambling environment evolving, there has been a growth in the industry, which also paved the way for illegal activities, such as online gambling, to thrive. 'In addition, the inability to meet affects uniformity and harmonisation of gambling policy and legislation, which leads to fragmentation in the gambling regulation in the country.' NOW READ: WATCH: Women and pensioners among 'vulnerable' groups, says Gauteng Gambling Board
