Tito takes 4.5% increase

[Dave A]

This article in Business Report shows that our reserve bank governor walks the talk - well done Tito.

South African Reserve Bank Governor Tito Mboweni received a 4.5 percent pay increase in the last fiscal year, the mid-point of the inflation target set by the National Treasury.

Mboweni was paid R2,83-million in the year
ended March 31, up from R2,71-million a year earlier, the
central bank said in its annual report, published on its Website
today.

South Africa's inflation rate rose to an annual 4.8 percent
in June from 4.1 percent in May. Mboweni in September 2003 asked the central bank's remuneration committee to peg his and his deputy governors' pay increases to the mid-point of the 3 percent to 6 percent inflation target.

[duncan drennan]

He "only" gets 10k more a month

Although I'm sure it is much easier to accept 4.5% when you are earning more than R200k a month.

Somehow it seems that asking for 10% when you are earning R1200pm does not seem so unreasonable then?

[Dave A]

Agreed completely Duncan.

However, the thing I admire is that he has "walked his talk" - unlike so many fat cat exec's in sheltered corporations that take 20%+ increases whilst pushing for less than 8% on their rank and file underlings.

[duncan drennan]

Yebo - Papi, Thulani, are you getting this?