While millions of South Africans are tightening their belts, some of the country’s top public officials are walking away with jaw-dropping paychecks—every single day.
Recent Parliamentary Q&A sessions have pulled back the curtain on just how much executives at State-Owned Enterprises (SOEs) are earning, and the figures are staggering.
According to a report by BusinessTech, a few government-linked CEOs are raking in millions every year—some making more in a single day than many citizens earn in an entire year.
Development Bank CEO Tops the List
At the very top sits the CEO of the Development Bank of South Africa, who reportedly earns a whopping R15.5 million a year.
That breaks down to about R1.29 million per month, or an eye-popping R42,400 per day.
Yes, you read that right—R42K a day.
This places the Development Bank’s head as the highest-paid public executive in the country.
Transnet, PRASA and RAF Also Pay Millions
Right behind are other big SOEs that pay their leaders handsomely:
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Transnet’s CEO earns R8.5 million per year (about R23,000 daily).
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PRASA’s CEO pockets R7.8 million annually (around R21,000 daily).
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The Road Accident Fund (RAF) CEO isn’t far off either, earning R7.1 million a year.
These figures have sparked fresh conversations about accountability, fairness, and how public funds are being used.
A Quick Look at the Top 10 Highest SOE CEO Salaries
Here’s a snapshot of the highest-paid executives at some of South Africa’s key SOEs:
| State-Owned Enterprise | Annual Salary | Monthly Salary | Daily Salary |
|---|---|---|---|
| Development Bank of SA | R15.5 million | R1.29 million | R42,465 |
| Transnet | R8.5 million | R708,333 | R23,287 |
| PRASA | R7.8 million | R650,000 | R21,370 |
| Road Accident Fund (RAF) | R7.1 million | R591,666 | R19,452 |
| CSIR | R6.92 million | R576,667 | R18,959 |
| Central Energy Fund | R6.15 million | R512,500 | R16,849 |
| Air Traffic Nav. Services | R6.14 million | R511,667 | R16,822 |
| South African Airways (SAA) | R6.0 million | R500,000 | R16,438 |
| PetroSA | R5.8 million | R483,333 | R15,890 |
| Rand Water | R5.4 million | R450,000 | R14,795 |
Public Questions the Price Tag of Public Leadership
With South Africa battling load shedding, rising living costs, and economic inequality, the revelation of these CEO salaries has many asking: Is this justified? Should SOE executive pay be reviewed or capped, especially when performance and service delivery are under the spotlight?
The public’s frustration is understandable.
These are taxpayer-funded organisations—and many of them have faced their fair share of controversy, inefficiencies, or bailouts in recent years.
What Do You Think?
Are these salaries simply part of attracting top talent in a competitive space? Or should SOE executive earnings be more closely aligned with the nation’s economic realities?
We’d love to hear your thoughts.