The 10 highest paid CEOs in Kenya (and their salaries)

Highest Paid CEOs in Kenya: Some of Kenya’s chief executive officers take hundreds of millions in salaries every year. In this feature, we take a look at some of the highest paid executives and the amount of salaries and allowances they take home every month.

Highest paid CEOs in Kenya:

1. Gideon Muriuki

Gideon Muriuki, CEO Cooperative Bank: He is the highest paid CEO in Kenya. Last year, his annual pay increased to Sh. 376.4 million. His bonus stood at Sh. 271 million, and salary at Sh.105.4 million.

2. Joshua Oigara

Joshua Oigara, CEO KCB: Mr. Oigara earned Sh. 299.1 million in salary, bonus and allowances in 2019. This included a salary of Sh. 72 million, compensation of Sh. 48.4 million, gratuity of Sh. 21.6 million, and bonus of Sh. 145.3 million.

Oigara’s pay amounted to Sh. 24.9 million per month.

How Joshua Oigara abandoned Sh 300 million salary by quitting as KCB CEO

3. James Mwangi

James Mwangi, CEO Equity Bank: Dr. Mwangi was paid a total salary Sh. 65.1 million in the year ended December last year up from salary of Sh. 60.4 million in the full year 2018. His pay included salary of Sh. 56.7 million (Sh. 4.72 million per month), non-cash benefits (Sh. 4.7 million), other allowances (Sh. 3.7 million).

4. John Gachora

John Gachora, CEO NCBA: Gachora earns in the range of Sh. 94.9 million. This equals a monthly pay of Sh. 7.5 million.

5. James Mworia

James Mworia, CEO Centum: He was at one point the highest paid CEO in Kenya. His salary has however been fluctuating over the past two years. Last year, his pay dropped by 75 percent to Sh. 45 million last year after he missed out on bonus earnings for failing to meet the set annual performance targets. Mworia had earned Sh. 177.6 million or an equivalent Sh. 14.7 million per month in the year to March 2018, which included a bonus of Sh. 132 million.

6. Andrew Cowan

Andrew Cowan, EABL group managing director: Last year, he earned Sh. 115.7 million or Sh. 9.6 million per month. His basic salary stood at Sh. 35.8 million.

7. Jemery Awori

Jeremy Awori, CEO Absa Kenya: He is paid Sh. 101 million every year. This includes a salary of Sh. 34.26 million, a retirement package amounting to Sh. 3.44 million, benefits of Sh. 26.39 million, bonus awards of Sh. 24.55 million, cash value award of Sh. 6.2 million, and share value award of Sh. 6.2 million.

8. Benson Wairegi

Benson Wairegi, CEO Britam: The chief executive officer of Britam is paid a salary of Sh. 85.1 million. This includes a salary of Sh. 65.8 million or Sh. 5.4 million per month, gratuity (Sh. 18.2 million) and non-cash benefits (Sh. 1 million).

9. Beverley Spencer-Obatoyinbo

Beverley Spencer–Obatoyinbo, CEO British American Tobacco (BAT) Kenya: She earns an annual pay in the range of Sh. 60.35 million. This includes an annual salary of Sh. 19.2 million which averages Sh. 1.6 million per month.

10. Peter Ndegwa

Peter Ndegwa CEO, Safaricom: The Safaricom CEO who took over in April 2020 is without a doubt going to be one of the highest paid CEOs, with his salary disclosure set for the current financial year.

James Mugambi, the man who sold Sh. 1.8 billion business to Equity Bank

Other top executives

1. Lawrence Kimathi, CFO, KCB: Kimathi took home Sh. 92.3 million last year, boosted mainly by an increase in salary, gratuity and a deferred bonus. Sh. 6.3 million. His basic salary increased by Sh. 8.8 million to Sh. 40.8 million.