by Thinus Ferreira
MultiChoice CEO Calvo Mawela has bagged R35 million ($2 million) in the pay-TV operator's past financial year, down from R51 million ($2.9 million) in the previous financial year.
The Randburg-based company is no longer technically insolvent, moving from a loss of R4 billion in 2024 to a profit of R1.8 billion in the just-declared financial year.
According to MultiChoice's financial results, Calvo Mawela's base salary increased from $702 000 (R12.4 million) to $726 000 (R12.7 million).
His pension payment also increased, although his benefits (medical benefits, fringe benefits, family benefits and travel allowances) decreased from $260 000 to $232 000.
His short-term incentives (STIs) which reflects the bonus paid on performance of the just declared financial year, decreased from $446 000 to $407 000.
Calvo Mawela's long-term incentives (LTIs) saw a large drop from $1.408 million to $554 000 (R9.7 million).
MultiChoice's video streaming service Showmax is far below the subscriber growth the company projected, while it also keeps losing linear DStv subscribers in South Africa and in the Rest of Africa (RoA).
