ECIC AR 2024 9TH

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D

H

S

I

L I

N

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2

0

A

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T

S

1

E

Integrated Report 2024

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

O

A

S

N

F

C

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N

C

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Salary Increases for 2024FY The salary increase process for the 2024FY was concluded, providing an average increase of 7% across the Corporation. In awarding annual salary increases, the increase percentages granted to general staff are generally higher than those granted to senior and executive management, thereby narrowing the pay gap that exists between the highest and lowest paid employees. Disclosure of Directors’ Remuneration Payments to directors for the year ended 31 March 2024 for services rendered are as follows:

Table 14: Payments to directors 2023

2023

Reimbur sive Expenses

Total R’000

Fees

D Dharmalingam 377

4 381

S Mayekiso

416

2 418

S O'Mahony

368

13 381

V Matsiliza

416

3 419

L Mothae

337

1 338

D Subbiah

356

9 365

E Makhubela*

-

1

1

L Mataboge*

-

-

-

W van der Spuy*

-

-

-

Table 13: Payments to directors 2024

Total

2 270

33 2 303

2024

* The director is a Government representative (National Treasury and dtic) and is not paid meeting attendance fees.

Reimbur sive Expenses

Total R’000

The decrease in non-executive remuneration in the 2024 financial year when compared to the 2023 financial year is mainly due to the backpay for the 2019 to the 2022 financial years on adjustment of the rates. The Human Resources and Remuneration Committee is satisfied that all benefits are justified and suitably disclosed. Executive Contracts Executives except for the Chief Executive Officers (CEO) are employed on permanent employment contracts with notice periods of one to three months. The CEO is employed on a five-year fixed term contract and his notice period is three (3) months. Employment contracts are offered until the retirement age of 65 years.

Fees

D Dharmalingam 248

-

248

S Mayekiso

250

-

250

S O'Mahony

217

25 242

V Matsiliza

237

-

237

L Mothae

228

-

228

D Subbiah

230

-

230

E Makhubela*

-

-

-

L Mataboge*

-

19

19

W van der Spuy*

-

-

-

Total

1 410

44 1 454

* The director is a Government representative (National Treasury and dtic) and is not paid meeting attendance fees.

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