I have to say, both employer and candidate got lucky. This is a pure mis-match of culture.
(btw, I am basing this on a one sided story and obviously the employer is only willing to extend offer after many considerations)

From candidate point of view, it is a insult to him somehow that this firm didn't even try to compensate him properly when he already matches the requirement.

From employer point of view, the employer thinks he can take advantage of the fact that the candidate is jobless.

Let me ask the employer: just for a difference of 250 rm, is it worth your time and effort to look again?