Vodacom CEO to donate a third of his salary to Covid-19 fund

Vodacom Group CEO Shameel Joosub will donate a third of his salary to the Solidarity Fund created to fight the Covid-19 pandemic in South Africa.

The telecommunications operator said on Sunday that Joosub had “heeded the call” by President Cyril Ramaphosa in this regard.

The Solidarity Fund allows individuals and organisations to contribute to the detection and prevention of Covid-19, to provide care for those that need medical care and to support those whose lives have been disrupted by the health crisis.

“On Thursday … Ramaphosa set an incredible example by announcing that he would be taking a one-third pay cut for the next three months and that his entire cabinet would do the same,” Joosub said.

“I, too, will heed the president’s call by donating a third of my salary for the next three months to the Solidarity Fund and call on other CEOs to follow suit.

“Not only is it the right thing to do but it will, in a small way, help towards South Africa’s recovery from the pandemic,” he said.

R11.3-million

Vodacom hasn’t disclosed Shameel’s remuneration for the current financial year, but in the year ended 31 March 2020, he took home guaranteed pay of R11.3-million. The donation presumably refers to 33% of his guaranteed package.

With various incentives and dividends included, his remuneration totalled R38.3-million before tax.  — (c) 2020 NewsCentral Media