‘BPOPF Board, CEO earning peanuts’

Social media streets were abuzz this week following circulation of an image showing that the BPOPF board chairman, Solomon Mantswe pocketed P353 600.00 from 23 meetings he attended. The lowest earner of the 10 trustees was Topias Marenga who earned P254 918.00 from 23 meetings. The total remuneration paid to trustees during the year was P3,002,695 compared to P 1,792,090 from year ending 2021 and consisted of fixed trustees’ allowances and retainer fees. On the other hand, it was revealed that the CEO Moemedi Malindah earned a total of P2 332 515.35.

The total remuneration paid to senior management during the year was P12,745,777.00 from P10,090,989.00 paid in 2021. “Board remunerations are usually in line with responsibilities. With BPOPF managing assets valued at over P90 billion, these are peanuts. This is almost of half of the country’s economy of P200 billion. You should bear in mind that these sittings are not just Board sittings. They also sit in the various committees which are at times forced to meet a lot of times while the Board would sit around four times in a year,” said Sibanda.