Vodacom CEO Shameel Joosub laughs all the way to the bank with R71 million pay package
Image: Simphiwe Mbokazi/Independent Newspapers
Vodacom CEO Shameel Joosub is laughing all the way to the bank after earning R71.1 million in total remuneration for the 2025 financial year, reflecting a 15.2% increase driven by performance-based incentives and long-term share awards.
This is according to Vodacom Group's annual report for the year ending 31 March 2025, which shows his pay included a guaranteed salary, short- and long-term incentives, and dividends. The report was published on Friday.
However, Vodacom also noted that his post-tax remuneration was estimated at R39.1 million, based on a 45% tax rate applied to the total package.
The report shows Joosub received R18.4 million in guaranteed pay for the 2025 financial year.
His long-term incentives included R20.7 million from Vodacom's conditional share plan and R4.4 million in Vodafone shares, with an additional R253,000 from vested Siyanda units.
Vodacom noted that Joosub's long-term incentive awards reflect his significant shareholding in the company, which exceeds the required minimum threshold.
"The CEO's LTI awards remain very competitive, noting that his current award eligibility reflects his substantial co-investment in Vodacom shares since his appointment as CEO. He currently holds in excess of his 300% shareholding requirement," Vodacom said.
Meanwhile, the company's Chief Financial Officer Raisibe Morathi earned a total remuneration of R31.4 million for the year.
Morathi's package included R11.3 million in guaranteed pay, R8.9 million in short-term incentives, and R9.4 million in long-term incentives. She also received R1.5 million in dividends and R248,000 from vested Siyanda units.
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