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Content about Natural Disaster

June 26, 2014

Johannesburg - South African Reserve Bank (Sarb) governor Gill Marcus received a 0.4% pay rise this year, indicating that one of the most prominent opponents of excessive executive pay practises what she preaches.

With inflation at 6.6% in May, Marcus' tiny increase, bringing her annual salary to R5.007m, amounts to a pay cut in real terms.

Marcus' deputy, Daniel Mminele, went one step further by receiving an actual reduction in salary to R3.8m a year.

The pay levels were given in the Sarb's annual report.