South African executive Raisibe Morathi, the CFO and executive director of Vodacom Group, received a compensation package of R28.36 million ($1.48 million), from the South African mobile communications company, at the end of its 2023 financial year.
Morathi, who has been at the helm of Vodacom Group since November 2020, received a significant compensation package that includes a base salary of R10.09 million ($0.53 million) along with a short-term incentive of R6.47 million ($0.34 million).
Additionally, she received a long-term incentive of R10.35 million ($0.54 million), underscoring the exceptional performance of the mobile communications group throughout the year.
Morathi’s 26 years in finance: Charting Vodacom’s growth across 32 nations
Founded in 1994, Vodacom Group boasts a customer base exceeding 130 million across Africa, extending its business services to more than 32 nations, including Tanzania, the Democratic Republic of the Congo, Mozambique, and Lesotho.
In 2020, Morathi, a finance and banking veteran with over 26 years of experience, joined Vodacom from Nedbank Group Limited, where she held the position of group CFO. Her expertise spans investment banking, private equity, corporate lending, and insurance.
As a prominent South African executive, Morathi has held executive roles at Sanlam Limited and the Industrial Development Corporation. She boasts a proven track record on various boards, particularly in audit committees, where she has served as a member or chairperson.
Morathi’s $1.38-million stake signals strong confidence in Vodacom’s future
Under Morathi’s leadership, Vodacom Group experienced significant growth, with total assets rising 28.3 percent from R177.97 billion ($9.43 billion) in 2022 to R228.32 billion ($12.09 billion) in 2023. Revenue also saw a noteworthy 16-percent increase, climbing from R102.74 billion ($5.44 billion) to R119.17 billion ($6.31 billion) by the close of 2023.
In addition to her executive and governance roles, Morathi holds a 0.01-percent stake in Vodacom, owning 243,554 shares valued at R26.35 million ($1.38 million), aligning her interests with the company’s ongoing success. Morathi’s dedication to Vodacom’s prosperity is evident in both her strategic leadership and financial investment in the company.
