R7.5 Million "performance bonuses" for NYDA's board
In a Parliamentary reply received today, Minister in the Presidency, Collins Chabane, indicates that NYDA board members and employees received R7.58 million for the 2012/2013 financial year. Another R8 million has been set aside for bonuses next year.
Senior management and top management received 66% of the bonuses totalling R4.96 million in "performance" bonuses.
It is a disgrace. How can NYDA see it fit to pay its senior managers massive performance bonuses while organisation still can't get it together? It has not achieved anything. No bonuses can be justified.
NYDA jobs and bonuses are nothing more than a reward for ANCYL cadre loyalty to President Zuma.
The money allocated to performance bonuses could have been used to create 1000s of jobs and bursaries. Instead, the money was used to enrich a few ANCYL cronies. Enriching themselves has been the only thing that NYDA has done consistently and successfully since its inception.