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Executive directors’ bonus calculations
For 2016, the executive directors’ bonuses were calculated in line with the approved bonus principles.
Full actual amounts of the bonuses paid can be found on
87.
MTN operations’ bonus declarations
In line with the performance bonus rules, bonuses become payable within an operation once the committee
is satisfied that the minimum performance thresholds have been achieved. For 2016 MTN Group employees
did not receive a bonus. A summary of the bonuses declared to the MTN Group operations is as follows:
Bonus declared
Bonus declared
2015
2016
2015
2016
Botswana
Yes
No
Afghanistan
Yes
No
South Africa
Yes
No
Congo-Brazzaville
Yes
No
Nigeria
No
No
Rwanda
Yes
No
Ghana
Yes
Yes
Zambia
Yes
No
Cameroon
No
No
Liberia
No
No
Ivory Coast
No
No
Guinea-Conakry
No
No
Uganda
No
No
Cyprus
Yes
Yes
Syria
Yes
Yes
South Sudan
Yes
No
Sudan
Yes
Yes
Iran
Yes
Yes
Benin
Yes
No
Swaziland
Yes
Yes
Yemen
No
Yes
Guinea-Bissau
No
No
Long-term incentive schemes (LTIs)
Long-term incentives to managerial and senior
employees are aimed at aligning their contributions
to shareholders’ expectations by sharing in the long-
term growth of the Company. Due to the fact that our
operations are spread across 22 African and Middle
Eastern countries, it is not always feasible to issue
MTN stock to all employees as we are only listed on
the Johannesburg Stock Exchange. For this reason,
the Company operates a combination of equity and
cash-settled schemes.
The general rule is that participants are allocated
shares, options, or rights equivalent to a fraction of
their annual salary. Depending on the performance
of the Company measured using various indicators,
participants proportionately either receive cash,
equity or a combination of both. Although the
eligibility of participants is defined in the rules of the
schemes, MTN reserves the right to exclude
participation by certain employees by virtue of their
employment status, e.g. disciplinary, suspension,
and dismissal.
MTN Group Limited
Integrated Report 2016
79
GOVERNANCE,
PEOPLE AND
REMUNERATION