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Friday, November 22, 2024
CEOWORLD magazine - Latest - Special Reports - South Africa’s Political Elite: Among the Nation’s Highest Earners

Special Reports

South Africa’s Political Elite: Among the Nation’s Highest Earners

South Africa’s ordinary MPs are not quite top one-percenters when it comes to their salary—but they are getting closer and are by far some of the highest-paid people in the country. Going on monthly earnings, previous data compiled by Knight Frank showed that a 1% earner in South Africa is anyone grossing over $109,000 a year.

Ministers and deputies, however, are definitely among the elite, taking home fat salaries on top of their tax-free perks and benefits. Much like trying to pin down what makes someone a middle-class earner in South Africa, the question of who makes it into the top 1% depends on who you ask and what data you look at.

This means that many of South Africa’s top politicians are now the elite 1% of the country’s population, making up some of the highest-earning individuals in a country gripped by the worst income inequality in the world. President Cyril Ramaphosa gazetted a 2.5% salary increase for MPs, ministers, and deputies last week. South Africa’s cabinet ministers have long been some of the highest-paid people in the country and gain a multitude of tax-free perks and benefits.

According to Corne Mulder, FF Plus MP and chief whip, not all politicians are “millionaires.” He also pointed out that ordinary MPs don’t get state housing and other perks—however, this is something cabinet ministers and their deputies certainly do enjoy. “Politicians are seen as corrupt rogues and crooks. There are bad people involved in politics, but they are taitning the role of all politicians,” he said.

While Mulder argues that MPs are not left with much, this does not remove the fact that South Africa’s politicians are top earners. Ordinary members of parliament belong to the top 3% of earners in the entire country. What they take home after deductions would still put them in the top 6% of earners if it were a gross salary. Even if ordinary MPs are not one-percenters, they are very close—and the higher politicians move in the ranks of parliament, the closer they get to that top 1% position.

CountryCapitalHead of StateHead of GovernmentGDP (nominal) per capitaGDP (PPP)GDP (PPP)GDP (PPP) per capita
South AfricaPretoriaCyril RamaphosaCyril Ramaphosa380.9066.191997.44416.211

 

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CEOWORLD magazine - Latest - Special Reports - South Africa’s Political Elite: Among the Nation’s Highest Earners
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz