This archive report was first published on 7 August 2020.
Kenya's top CEOs are among the highest paid in the region, with some earning hundreds of millions in salaries and allowances every year. According to recent reports, the highest paid CEO in Kenya is Gideon Muriuki, CEO of Cooperative Bank, who earned a staggering Sh. 376.4 million in 2019.
Other top CEOs include Joshua Oigara of KCB, who earned Sh. 299.1 million in 2019, and James Mwangi of Equity Bank, who earned Sh. 65.1 million in the year ended December 2019.
Here are the top 10 highest paid CEOs in Kenya and their salaries:
- Gideon Muriuki, CEO Cooperative Bank: Sh. 376.4 million in 2019, including a bonus of Sh. 271 million and a salary of Sh. 105.4 million.
- Joshua Oigara, CEO KCB: Sh. 299.1 million in 2019, including a salary of Sh. 72 million, compensation of Sh. 48.4 million, gratuity of Sh. 21.6 million, and a bonus of Sh. 145.3 million.
- James Mwangi, CEO Equity Bank: Sh. 65.1 million in the year ended December 2019, including a salary of Sh. 56.7 million, non-cash benefits of Sh. 4.7 million, and other allowances of Sh. 3.7 million.
- John Gachora, CEO NCBA: Sh. 94.9 million, equivalent to a monthly pay of Sh. 7.5 million.
- James Mworia, CEO Centum: Sh. 45 million in 2019, a significant drop from Sh. 177.6 million in 2018.
- Andrew Cowan, EABL group managing director: Sh. 115.7 million in 2019, including a basic salary of Sh. 35.8 million.
- Jeremy Awori, CEO Absa Kenya: Sh. 101 million every year, including a salary of Sh. 34.26 million, a retirement package of 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.
- Benson Wairegi, CEO Britam: Sh. 85.1 million, including a salary of Sh. 65.8 million, gratuity of Sh. 18.2 million, and non-cash benefits of Sh. 1 million.
- Beverley Spencer–Obatoyinbo, CEO British American Tobacco (BAT) Kenya: Sh. 60.35 million in the range of annual pay, including an annual salary of Sh. 19.2 million.
- Peter Ndegwa, CEO Safaricom: Salary disclosure set for the current financial year.
Other notable executives include Lawrence Kimathi, CFO of KCB, who earned Sh. 92.3 million in 2019.
