Cyril Ramaphosa has been serving as a President of the Republic of South Africa since 2018 and a President of the African National Congress since 2017.
Apart from being a politician, he is known to be a businessman with an estimated net worth of over R6.4 billion ($450 million).
When he was appointed as the Deputy President of South Africa in May 2014 by the former president Jacob Zuma, he stepped down from most of his businesses to avoid conflict of interest. Before that, he was the Executive Chairman of Shanduka Group, which he was a founder.
The company has investments in the resources, energy, real estate, banking, insurance, and telecoms sectors.
He has held Non-Executive Directorships with Macsteel Holdings, Alexander Forbes, and Standard Bank, as well as being the Chairman of The Bidvest Group and MTN. He has previously held a position on the board of SAB Miller.
He became one of the richest men on the continent and was listed number 42 on the Forbes list of Africa’s wealthiest people in 2015.
So, it is safe to conclude that he does not count the days to payday as he commands the big bucks, money has always known his doorstep.
In early 2020, the commission recommended that public representatives at national, provincial and local government levels, members of the judiciary and magistrates and traditional leaders, be paid between 3% and 4% more on what they were already earning.
The commission’s recommendation meant that Ramaphosa will now earn R90000 more from his previous salary of 2.99M annually.
According to Mywage, Ramaphosa’s estimate annual salary is reported to be about R3 100 000,00, R258 333,33 monthly, R59 615,38 weekly, and R11 923,08 daily.
Making him one of the best-paid leaders in the world. The South African news reported in 2019 that Ramaphosa earns almost 20 times more than the average wage of a South African.
The research was conducted by Adzuna research team wherein they compared the annual salaries of leaders from 45 nations with the average income of their population and Ramaphosa took the top spot, earning 19 times more than the common person.
The average wage for a South African over a 12-month period is R181 000, showing just how far the gap is between the elite and the working classes. Ramaphosa has shown acts of generosity wherein he donated part of his salary to make a difference and help curb the spread of Covid-19.
In April 2020, he announced a one-third salary cut for himself, the Deputy President, Ministers, their deputies, and Premiers for a period of three months.
The money was donated to the Solidarity Fund that was set up to fight the coronavirus pandemic.