SARB senior staff get inflation-busting pay rise

The South African Reserve Bank has awarded its governor and deputies massive pay rises at a time when inflation is far above the central bank's target band.

The Reserve Bank's latest Annual Report shows Tito Mboweni, the governor, will earn R3.796m ($482,000) in 2008, 27.6% more than last year. His rise is dwarfed by that of his two deputies: Renosi Mokate will earn R2.839m ($360,400), a rise of 72.7%. Xolile Guma, will pick up R2.774m ($312,100) - a 66.4% rise.

The pay deals contrast with the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: