Home » South African executive Andries van Heerden pockets $1.7-million salary in 2023

South African executive Andries van Heerden pockets $1.7-million salary in 2023

Van Heerden's compensation at Afrimat jumps 13.86 percent to $1.7 million in 2023

by Mfonobong Nsehe
Andries van Heerden

Andries van Heerden, South African executive and CEO of Afrimat — a mid-tier mining and materials company — received a compensation package of R31.96 million ($1.70 million) in 2023 for his significant role in the company’s financial success.

This marks a notable increase of 13.86 percent from the previous year’s total of R28.07 million ($1.49 million), showcasing the impressive achievements and financial advancements made by Afrimat under his leadership.

Heerden’s 2023 compensation comprises a base salary of R6.48 million ($0.34 million), complemented by a performance-driven short-term incentive of R5.86 million ($0.31 million). Additionally, he also received a long-term incentive of R12.14 million ($0.65 million).

Van Heerden’s vision: Guiding Afrimat’s growth and diversification

Established in 1963, Afrimat stands out as a prominent mid-tier mining and materials company. With a strong focus on delivering exceptional results, the company has garnered a solid reputation in the industry.

Led by CEO van Heerden since November 2006, Afrimat has pursued opportunities to expand its product offerings as part of its diversification strategy. Under Heerden’s leadership, the company has achieved significant growth, including its listing on the Johannesburg Stock Exchange in 2006.

Heerden, formerly CEO of Lancaster Group and managing director of Prima Quarries, received recognition for his visionary leadership, earning the Ernst & Young World Entrepreneur of the Year award for Southern Africa in November 2017.

Cementing confidence in Afrimat’s future with nearly $15-million investment

Under Andries van Heerden’s leadership, Afrimat aims to be the world’s leading supplier of construction materials and industrial minerals. The company achieved a 4.88-percent growth in revenue, reaching R4.91 billion ($261.57 million) from R4.68 billion ($249.41 million) in 2022. 

In addition to his executive roles, Heerden holds a 2.72-percent stake in Afrimat, which amounts to 4,340,506 ordinary shares valued at R278.92 million ($14.87 million), underscoring his commitment and confidence in the company’s future.

Driven by results and performance, Heerden invests time and energy in refining the business strategy. Passionate about people and leadership development, he embodies a commitment to Afrimat’s success.

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