Question NW2722 to the Minister of Public Enterprises
26 September 2017 - NW2722
Mazzone, Ms NW to ask the Minister of Public Enterprises
(a) What is the total amount of bonuses paid to a former official of SA Express (name and details furnished) during the specified person’s tenure and (ii) breakdown of the total amount of bonuses in terms of amount paid in each case, (b) on what dates were bonuses paid and (c) whey were they paid?
Reply:
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Financial Periods |
FY2010 |
FY2011 |
FY2012 |
FY2013 |
FY2014 |
FY2015 |
FY2016 |
31/03/2017 |
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Incentive Bonus (Long Term Incentive) in Rands |
0 |
500529.20 |
459907.4 |
0 |
0 |
0 |
0 |
0 |
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The Long Term Incentive Scheme was a Retention scheme that was earmarked for employees whom the company wished to retain. |
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Eligibility: |
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High Performers who scored a minimum of 70% in their annual performance. |
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Mechanics: |
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The scheme operated on a phenomenon of banking the financial amounts the individuals qualified for each financial year, and only availing the amount at the end of the 3 years. In order to qualify, the individual had to maintain performance of 70% and above. |
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Mogokare Richard Seleke Lynne Brown, MP
Director-General Minister of Public Enterprises
Date: Date: