Chamwe Kaira
Mobile Telecommunications Limited (MTC) has disclosed that total executive remuneration rose to N$52.7 million in 2025, up from N$33.3 million in 2024. The increase was largely driven by performance bonuses and retention payments.
According to the company’s notice of annual general meeting for 2026, executive directors earned N$25.6 million in salaries, N$7 million in allowances, N$6.95 million in performance bonuses and N$11.8 million in retention payments for the financial year ended 30 September 2025.
MTC managing director Licky Richard Erastus received total remuneration of N$9.9 million in 2025, compared to N$7.3 million the previous year.
Finance director Marthinus Smit earned N$6.2 million, up from N$3.7 million in 2024. Key management remuneration increased to N$36.7 million from N$22.4 million a year earlier.
MTC increased salaries for all permanent employees, including executive management, by 5% with effect from 1 October 2025.
The company aligned its revised remuneration framework to the 50th percentile of the national market and introduced additional allowances for scarce and specialist skills. Performance bonuses are linked to individual KPIs, company profit before tax and customer satisfaction metrics.
The maximum potential bonus is 3.25 times the monthly total cost to the company, except for the managing director, whose contract allows a multiplier of up to six. MTC confirmed that it does not have malus or clawback provisions in its remuneration policy.
Non-executive directors’ fees increased by 5% from 1 October 2025. Total non-executive remuneration amounted to N$3.15 million in 2025, compared to N$3.01 million in 2024. Board chairperson Trophimus Hiwilepo received N$337,000, while Werner Schuckmann earned N$310,000 during the year.
The disclosures come ahead of MTC’s annual general meeting scheduled for 19 March 2026 in Windhoek. Shareholders will vote on two non-binding advisory resolutions on the company’s remuneration policy and its implementation.
The board said previous remuneration votes failed to secure the required 75% shareholder support, which led to a review and benchmarking of pay structures.
Shareholders will also be asked to confirm a final dividend of 68.28 cents per ordinary share. The dividend was declared on 5 December 2025 and paid on 6 February 2026 to shareholders on record as of 23 January 2026.
They will consider and adopt the audited financial statements for the year ended 30 September 2025.
Four directors retiring by rotation, Trophimus Hiwilepo, Werner Schuckmann, Andrew Kanime and Fabiam George, are standing for re-election.
Shareholders will also ratify the appointments of Mercia Geises, appointed as non-executive director in July 2025 and elected lead independent director in September 2025 and Etiigwana Itope, appointed as an independent non-executive director in July 2025.
The AGM will also vote on the re-appointment of PricewaterhouseCoopers (PwC) as external auditors and authorise the board to determine auditor fees.
Shareholders will consider a general authority resolution enabling directors or the company secretary to implement resolutions passed at the meeting.
The meeting will be held in Windhoek with provision for electronic participation and online voting through the Lumi platform, in line with the Companies Act and the company’s Articles of Association.
