Kenyan CEO Who Earns Ksh23 Million per Month

  • Joshua Oigara, the CEO of KCB group earned a whooping Ksh273 million in 2018 in salary bonuses and allowances as per official records released as the bank announced record net profits.

    Oigara’s salary rose by 6.6 percent and was facilitated by the Ksh33 million rise in his bonus from Ksh 147 Million to Ksh180 Million.

    Despite his allowances dropping from Ksh20 million in 2017 to Ksh10 Million in 2018, the CEO's income was shielded from dropping by the rise in his bonus.

    His higher bonus resulted from the group's 21.8 percent growth in profits to Ksh24 billion, the highest number ever recorded.

    Oigara’s basic salary rose by Ksh3 million to Ksh68 million while gratuity increased by Ksh1 million to Ksh14 million.

    His non-cash benefits that include medical insurance cover, club membership and professional indemnity cover remained flat at Ksh1 million as outlined by a report on Business Daily.

    Narrowing down from the Ksh273 million means the CEO was earning an equivalent of Ksh22.75 million per month, Ksh 725,000 per day and Ksh 30,208 per hour.

    This put him among the top earners in the country.

    An earlier report indicated that in 2017, Centum Investment CEO James Mworia went home with a total of Ksh375.6 million.

    The remuneration, which extended Mworia’s record as corporate Kenya’s highest-paid CEO, was equivalent to Ksh31.3 million per month.