Tuesday, August 16, 2022

Joshua Oigara vs James Mwangi: See who earns more as CEO

Oigara vs Mwangi Salary: Joshua Oigara and James Mwangi lead two of Kenya’s biggest banks. Oigara is the top man at KCB while Dr. Mwangi is the top executive at Equity Bank. Their salaries mirror their top roles. But who earns more than the other? Currently, the law requires all public-listed companies to declare the total compensation of each director, including salary, bonuses, pension and expenses charged to the company. As such, here is a breakdown of what each of them earns, according to their latest pay figures:

Joshua Oigara

The latest pay disclosure shows that he earned an incredible Sh. 299.1 million salary per year as the chief executive officer by the Kenya Commercial Bank (KCB). This pay includes his basic salary, allowances and bonuses.  Oigara earned a bonus of Sh. 145.3 million. He was also paid deferred compensation of Sh. 48.4 million as bonus last year and a gratuity of Sh. 21.6 million. His basic salary was Sh. 72 million.

James Mwangi

In the year 2020, Equity bank chief executive officer Dr. James Mwangi earned Sh. 278.5 million salary. This is according to the latest filings for the year ended December 31 2020. Dr. Mwangi’s earnings include a Sh. 194.5 million gratuity, Sh. 56.7 million in basic pay and Sh. 13.9 million in leave pay.

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This 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) and pension (Sh. 2,000). Apart from this salary, Mr. Mwangi is also set to take home dividends amounting to Sh. 416 million from his 208 million shares which he holds in the bank.

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