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Naspers awards CEO $10.4 million

The pay awards correspond with a year in which Naspers earnings increased by 41% to $1.8 billion

Loni Prinsloo | Bloomberg 

Naspers awards CEO $10.4 million

awarded Chief Executive Officer $10.4 million in long-term share options as Africa’s biggest company by market value seeks to boost its global internet businesses amid declining profit at the sub-Saharan Africa pay-operation.

The incentive comes on top of a salary of $2.2 million in pay and bonuses for the most recent fiscal year through March, the Cape Town-based company said in its annual report. Chief Investment Officer Mark Sorour received $2.6 million, including a $1.2 million based on his deal making success, which included the sale Polish online business Allegro for $3.25 billion.

The pay correspond with a year in which earnings increased by 41 per cent to $1.8 billion, driven by the performance of Chinese internet company Tencent Holdings. executives met with investors in the US and London last month about a planned bond issue to help repay debt and pursue further acquisition targets as the company seeks more fast-growing investments.