Eskom pay averages R1.165m. A new law will show who really gets it

The average Eskom employee now earns R1.165 million a year, up from R816,000 three years ago, according to figures from the utility's annual reports (MyBroadband). What that average hides is about to come out: a change to the Companies Act forces Eskom to publish its median pay and the gap between its best and worst paid staff.

Those rules took effect on 22 May 2026 and apply to every state-owned company and every public company in South Africa, not only Eskom (CIPC).

How fast has Eskom's pay grown?

Eskom's salary bill rose from R32.3 billion in 2023 to R50.4 billion in 2026, the biggest jump in the utility's history (MyBroadband).

Sources: MyBroadband, Newsday, based on Eskom annual reports.

The 43,274 headcount at the end of the 2026 financial year is Eskom's highest in five years (Newsday).

Why did salaries jump?

Board chairman Mteto Nyati has said previous management froze salaries for five years and suspended performance incentives, which he called unfair to staff doing critical maintenance. The current board reversed the freeze, gave increases and brought back performance and production bonuses (MyBroadband).

What does the new law make Eskom reveal?

Section 30B of the Companies Act now requires an annual remuneration report with an implementation report that lists (Companies Act s30B):

• the total pay of each director and prescribed officer
• the pay of the highest paid employee
• the pay of the lowest paid employee
• average pay, median pay, and the ratio between the top 5% and bottom 5% of earners

Until now, Eskom disclosed per-person pay only for directors and prescribed officers, plus its total staff costs and headcount (MyBroadband). The highest and lowest earners are reported as amounts, not by name (SARA guidance).

Why does the median matter more than the average?

The median is the middle salary: half of staff earn more, half earn less. A small group of very high earners can drag an average up while most people earn far less. If Eskom's median turns out well below R1.165 million, the money is concentrated at the top. If it sits close to the average, higher pay is spread across the workforce (MyBroadband).

When will we see the numbers?

The rules apply to annual general meetings called after 22 May 2026. An AGM that was already validly called before that date is not covered (CIPC). Eskom has not announced a date for its first report under the new rules.

Shareholders must approve the report each year. If they reject it at two AGMs in a row, the non-executive directors on the remuneration committee are barred from serving on that committee for two years (Bowmans). For Eskom, the shareholder is the state.

Does this affect where you work?

If you work for a JSE-listed company or any other public company, or for a state-owned company, your employer now has to publish the same figures: its median pay, its highest and lowest pay, and its top-to-bottom pay gap (Deneys Reitz). Private companies do not have to produce this remuneration report.