Who is the highest-paid CEO in Kenya?
Earning about 376 million a month or ksh. 1 million a day, Co-operative Bank’s Gideon Muriuki is one of the highest-paid CEO’s in Kenya. His annual pay of Sh376.4 million, according to the bank’s latest full-year financial reports, split into a bonus of ksh 271 million and a salary of ksh 105.4 million.
How Much Does a CEO Earn in Kenya?
According to Payscale, the average salary for a Chief Executive Officer (CEO) in Kenya is ksh 2,197,508. Yep, It’s thrilling and scary to learn that the top 1% of the world has more income than the bottom 90% combined. The difference between the rich and the poor is not a myth.
Anti-capitalists believe this being the greatest problem with modern societies. CEO’s are living the Bruce Wayne reality in an Abunuasi world.
What does a Chief Executive Officer (CEO) Do?
A CEO shoulders the enormous burden of having most accountability for the success or failure of an organization, as one major decision can often take a large toll on a company if it is good.
A few of the many job responsibilities that a CEO may have include several commanding responsibilities such as leading, guiding, overseeing the job performance of other highly ranking company employees such as the president and vice presidents.
The CEO will also put together and plan a strategic set of plans on how to address the direction of their company, as this is one of the more important parts of carrying the job title. It is their job to make sure that all employees carefully follow these plans for all business decisions and matters that go on within the company itself.
What Are Popular Skills for Chief Executive Officer (CEO)?
- Determine overarching goals and initiatives.
- Establish positive relationships with stakeholders and other business leaders.
- Drive strategic planning, business development, and fiscal operations.
What is the Monthly Salary for Chief Executives in Kenya?
Here are the highly paid CEO’s in Kenya in no particular order.
James Mworia – Centum CEO
James is the CEO of Centum investment. Through Centrum’s impeccable employee performance scheme, Mworia is paid over 202 million annually. The corporate king bags 16.9 million per month, making him among the highest-paid CEO in Kenya.
Centum’s generous employee performance bonus scheme is probably the reason they pay him as much as he does. As the key driver in the company, one would expect him to earn even more in the coming years.
Mworia is the largest individual shareholder of about 5.67 million shares. This earned him Ksh.6.8million as a shareholder.
Mr. James Mwangi – CEO of Equity Bank Group
James Mwangi is the CEO of Equity Bank. He somehow got this small bank to one of the largest banks in East Africa. Record profits and tremendous growth is the hallmark of his reign at Equity Group holdings. This brilliant entrepreneur’s monthly salary translates to Ksh.190.8million.
James Mwangi owns 127.8 million shares in Equity Group. He owns a 3.3% stake in the company.
Beverly Spencer Abatoyinbo – BAT
As a leader of one of Kenya’s oldest Blue Chip Companies, she has set herself apart as a leader. Ms. Beverly the MD of BAT has a total pay of Ksh.60 million in salary. Allowances and other benefits. Her annual salary was Ksh.19.2 million.
Other than just a fat salary, MS Spenser earns short and long-term benefits. These include receiving shares in BAT parent company, UK.
Jane Karuku – MD East African Breweries
Jane Karuku is the MD East African Breweries Limited. Must be among the best-paid women in the country. Smiling all the way to the bank. The Managing director of a Beer Processing Company takes home a whooping Ksh. 7.2 million per month.
Joshua Oigara – KCB Group CEO
KCB Group reappointed the KCB Group CEO Joshua Oigara in 2018 for a four-year term. The CEO earns a basic salary of Ksh.68million and a bonus of Ksh.180million for the year ended December 31st, 2018.
Joshua receives Ksh.14million in gratuity and a non-benefit of 1million. His allowances sum up to Ksh. 14million. This reflects the improved performance of the bank.
Jeremy Awori – ABSA Bank Kenya CEO
The CEO of ABSA Bank of Kenya makes a huge basic salary of Ksh 34 million and an extra Ksh 29.7 million in benefits. He receives ksh 3.4 million in pension payments. In 2018, they paid Awori Ksh24 million in cash as a bonus. Deferred cash value plan award of Ksh.6.2 million. Seals the deal with another Ksh.6.2 million deferred share value plan.
Tabitha Karanja – Keroche Breweries CEO
It is impossible to have any list of CEO’s in Kenya without Tabitha Karanja. This wonderful lady has single-handedly delivered when others thought she couldn’t. It is impossible to know her exact salary or earnings seeing that she owns Keroche.
But it would be foolhardy not to include her as one of the highly paid CEO’s in Kenya.
Benson Wairegi – Britam CEO
In the financial year ending 2019, Benson Wairegi, CEO Britam, increased his earnings to 85.1 million. Since he took over the company, he’s earnings have increased at a consistent 4-6% each year.
This is despite leading a company that is very slow to adopt new ideas. Britam has a habit of losing it’s top employees every year. Most famous being the loss of it’s top employees to Cytonn Investments. However, the company continues increasing it’s revenue with it’s old school ways.
Special Mention in our Best Paid CEO’s in Kenya
Mr John Gachora –CEO National Insurance Company Bank
When NIC and CBA merged last year, John Gachora was picked to head the new bank. Mr. Gachora bagged home Kshs 95.9 million with a basic salary of Kshs 61.6 million.
Some say that this bank is a monopoly or a family affair. But one can’t deny the success of the local banks.
Peter Ndegwa – Safaricom CEO
Taking over from Michael Joseph and the forever Safaricom CEO Bob Collymore is no mean task. As the boss of the telecommunications giant, it’s expected that he should find himself in this list in the future.
He earns about Ksh 9 million every month, translating to about Ksh 108 million annual salary.
Worst CEO’s in Kenya
Allan Kilavuka – Kenya Airways CEO
It’s hard to list Mr. Kilavuka as one of the highest paid CEO’s in Kenya. It cannot be gain said that his tenure at KQ is controversial to say the least. A lot has been said about this company. Some suggest it should be shut down to save the Kenyan taxpayer from misery.
Hopefully, we’ll be able to update this post with better news from KQ.
It’s not easy coming up with a list of the best paid CEO’s in Kenya. The truth of the matter is that many will never list their earnings. As long as the NSE allows them to do so, we may never get a true understanding.
The biggest issue that most Kenyans have with the highest paid CEO’s in Kenya is simply transparency. How a corporation can continue paying huge sums to these company leaders while still making loses is one for the ages. Only they can understand.