Kenya’s corporate sector delivered another year of robust financial performance in the 2025/26 financial year, with strong profitability translating into higher executive compensation across leading institutions.
The improved earnings saw chief executives of some of the country’s largest companies receive increased remuneration, reflecting their institutions’ strong results.
Industry data shows that in the closed 2025/26 financial year, the five highest-paid corporate leaders collectively earned Sh1.53 billion, translating to an average annual remuneration of Sh306.72 million.
Executive pay disclosures contained in the latest annual reports show that Co-operative Bank, Equity Group, KCB Group, and NCBA Group all rewarded their chief executives with substantial remuneration packages following another profitable year in the banking sector.
Safaricom Chief Executive Peter Ndegwa also featured prominently among Kenya’s highest-paid executives after receiving an enhanced compensation package.
Below is how the top five paid executives earned in the 2025/26 financial year.
- Gideon Muriuki – Co-operative Bank (Sh474.8 million)
Co-operative Bank Managing Director and Chief Executive Officer Gideon Muriuki emerged as Kenya’s highest-paid executive during the 2025/26 financial year after receiving a total remuneration package of Sh474.8 million.
The lender’s latest remuneration disclosures show that his earnings comprised a basic salary of Sh172.5 million and a performance bonus of Sh302.3 million.
Dr. Muriuki joined the Co-op Bank in 1996 as a Senior Corporate Manager. Three years later in 1999, he assumed the role of Director, Corporate and Institutional Banking climbing the ranks to become the bank’s Managing Director in 2001.
Under his leadership, Co-op Bank has become Kenya’s third largest bank by assets, boasting over 200 branches countrywide.
Dr. Muriuki holds a Bachelor of Science degree in Mathematics. He is also a Fellow of the Kenya Institute of Bankers and has been awarded an Honorary Doctorate in Business Management in year 2011.
He has also served as the Vice-President Africa – International Cooperative Banking Alliance (ICBA), former Chairman, Governing Council of the Africa International University and former Chairman, African Rural and Agricultural Credit Association (AFRACA).
- Peter Ndegwa – Safaricom (Sh324.5 million)
Safaricom Chief Executive Peter Ndegwa ranked second after earning Sh324.5 million, according to the telecommunications firm’s 2026 Annual Report.
His remuneration package included a basic salary of Sh105.4 million, performance bonuses amounting to Sh118.5 million, non-cash benefits worth Sh31.4 million, and Sh69.2 million received under the Employee Performance Share Award Plan (EPSAP).
The latest package marked an increase from the Sh294.2 million he earned in the previous financial year. His basic salary also rose from Sh98.7 million to Sh105.4 million.
Ndegwa was appointed as the Safaricom CEO in October 2024, making him the first Kenyan to assume that role.
His tenure began amid the turbulence of the COVID-19 pandemic, an existential stress test for any incoming executive.
Under his stewardship, Safaricom became the first East African company to surpass USD 3 billion in revenue.
- James Mwangi – Equity Group (Sh275.7 million)
Equity Group Managing Director and Chief Executive James Mwangi received Sh275.7 million, placing him among the country’s highest-paid corporate executives.
Mwangi, who became Equity CEO in 2004 is credited with democratizing financial access, leading Equity to become an integrated financial services Group operating in 6 African countries.
The lender is the biggest bank in Kenya, with a customer base of over 20.7 million and a distribution network of over 400 branches.
He holds a Bachelor of Commerce degree and is a Certified Public Accountant.
- Paul Russo – KCB Group (Sh250.2 million)
KCB Group Chief Executive Paul Russo earned Sh250.2 million during the financial year, making him the fourth highest-paid executive among the institutions reviewed.
Russo has been working at KCB Bank since 2014 as KCB Group’s Head of Human Resources before his appointment to the current position in May 2022.
He has previously worked in the Human Resource department of Kenya Breweries as the Acting Compensation and Benefits Manager, before joining Barclays Bank of Kenya (present-day Absa Bank Kenya), Barclays bank Tanzania and Barclays Africa all as a regional HR head.
He has also worked at K-Rep Bank (present-day Sidian Bank) as Chief HR officer and PricewaterhouseCoopers (PwC Kenya) as head of Human Capital.
- John Gachora – NCBA Group (Sh208.4 million)
NCBA Group CEO John Gachora completed the top five list with total remuneration of Sh208.4 million.
Gachora was appointed as the Group Managing Director and Group CEO of NCBA Group in 2019 following the merger between NIC Group PLC and Commercial Bank of Africa (CBA), which gave birth to the present-day NCBA Bank.
He previously served as a Managing Director at Bank of America Securities and as Managing Director, Corporate and Investment Banking at Barclays Africa prior to joining the NCBA Group.
He holds Bachelor of Science and Masters in Engineering degrees in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology, USA and an MBA degree from the Wharton School, University of Pennsylvania, USA.
Also Read: Uganda Airlines orders 4 Boeing 737 Max, 4 Boeing 787 Dreamliner jets
