The proposed Fair Pay Bill seeks to amend the Employment Equity Act (1998) to strengthen pay transparency, fairness, and equal opportunity in South African workplaces. Its main goal is to remove salary history discrimination and promote open, equitable remuneration practices.

Khokhela’s Actual and Predicted Increase Survey for 2025 shows that the average increase in salaries in 2025 was 5.2% compared to 5.7% in 2024. This increase is higher than the year-to-date average inflation rate from January – September 2025 of 3.1% which is lower than the same period last year which was 4.94%. The average inflation rate for Q3 was 3.4% which is also lower than the same period last year which was 4.3%.

Khokhela’s 2025 Directors’ Remuneration Report provides an in-depth view of how executive and board pay has evolved across JSE-listed companies over the past six years. Based on data from more than 170 companies across multiple industries, the report identifies key trends shaping remuneration practices and governance in South Africa. The following newsletter provides a brief look at major trends that illustrate how pay practices are evolving.

The Khokhela Directors’ Remuneration Report 2025 continues its legacy as a comprehensive analysis of executive and non-executive remuneration trends across JSE-listed companies and key SOEs. Published since 2019, the report has established itself as a benchmark for remuneration insights, providing data-driven analysis to guide stakeholders in understanding evolving remuneration practices.

At first glance, low inflation may suggest that salary increases could follow suit. However, the economic landscape tells a different story.

Khokhela is proud to present its inaugural Directors’ Remuneration Report focusing on the JSE Top 40 companies for the financial year ending 2024.

The amended Companies Act, which includes the proposals which were included in the Companies Act Amendment Bill (CAB) has been gazetted but not yet promulgated, with no implementation date announced, leaving companies uncertain about compliance for the upcoming financial year.

Khokhela’s Actual / Predicted Increase Survey for 2023 shows that the average increase in salaries in 2023 was 6.0%. This is in line with the year-to-date average inflation rate of 6.04%.