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E2M BONUS FOR 11 SCCOM EMPLOYEES?

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MBABANE – It rained money for employees of the country’s telecommunications regulator at the end of the 2017 financial year.


The Swaziland Communications Commission (SCCOM) has paid out an amount of E2 080 591 in bonuses for its employees.
This is a huge increase from the previous year (2016) where the bonus paid to the employees stood at E408 444.

The increase, according to the Commission, has been done in terms of the International Accounting Standards: IAS 19 – Employee Benefits. This information is contained in the Commission’s 2017 Annual Report, which states that the bonus provision consists of a performance-based bonus that is determined by reference to the overall performance with regard to a set of pre-determined key performance measures.


“Bonuses are payable annually after the Commission’s annual results have been approved. Payment of bonus has to be approved by the Board of Directors,” reads the annual report.
The bonuses were paid out much against a Cabinet decision, through the Public Enterprises Unit (PEU), to halt the payment of bonuses for the 2016/2017 financial year.


This was while awaiting the approval of new guidelines for the payment of the bonuses
Since inception in 2013, the Commission had been operating on a staff complement of 11, which constituted of seven professionals and four support staff, against an approved organisational structure of 30 positions.
In the report, SCCOM states that as business continued to grow, it became critical for it to increase the number of personnel.


 

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