As 2025 comes to an end, many Kenyans are still feeling the strain of high prices and slow salary growth.
Looking back at executive pay from the year tells a clear story: while most workers had to make do with tight budgets, a small group of CEOs earned hundreds of millions of shillings.
In fact, Kenya’s highest-paid CEO earns about Ksh 1 million every day, taking home at least Ksh 31 million each month.
So, who is the highest-paid CEO in the country?
- Dr. Gideon Muriuki
According to recent reports, it is Dr. Gideon Muriuki, the long-serving CEO of Co-operative Bank of Kenya.
Muriuki, who has led the banking giant for decades, earns an estimated Ksh 270 million annually, which breaks down to roughly Ksh 31.7 million per month or Ksh 1 million per day.
2. Peter Ndegwa, Safaricom — KES 294.2 million ($2.28 million)
In 2024, Safaricom CEO Peter Ndegwa, whose pay package grew 17% from 2023, totaling nearly KES 300 million. His earnings combined salary, bonuses, non-cash benefits, and performance shares, rewarding him for Safaricom’s 11% profit growth to KES 69.8 billion ($542 million). Mobile money and data services were the big drivers, while operations in Ethiopia finally turned around, contributing to his record haul.
3. Paul Russo, KCB Group — KES 250.2 million ($1.94 million)
Paul Russo’s pay surged 41%, reflecting KCB’s record profits of KES 60 billion ($466 million)—most of it from low-risk government lending rather than traditional loans. Even as Russo celebrated a windfall, junior staff felt the pinch: KCB cut directors’ pay by 20%, highlighting how executive pay remains largely untethered from everyday employee realities.
4. John Gachora, NCBA Group — KES 208.4 million ($1.62 million)
John Gachora’s pay jumped 25.7%, making him the third-highest-paid CEO. NCBA’s boardroom expenses set records too, with directors pocketing KES 660.2 million ($5.1 million), up 54.4%. Profits were driven by Treasury bill and bond investments, while lending to private-sector clients stayed cautious.
6. Kariuki Ngari, Standard Chartered Kenya — KES 174.4 million ($1.35 million)
Kariuki Ngari’s package grew a massive 43.5%, after Standard Chartered posted
KES 28.2 billion ($219 million) in record earnings. While the bank continued staff attrition and digital restructuring, executive pay was largely insulated, reflecting a wider trend across banking.
7. James Mwangi, Equity Group — KES 166.3 million ($1.29 million)
James Mwangi saw a modest 4.7% increase, yet remains a key figure in Kenya’s financial sector. Equity Bank recorded KES 46.5 billion ($361 million) in net profit. Mwangi also owns about 3.38% of the bank, tying his personal fortune to the group’s performance—a rare alignment of executive pay and company stake.
8. Abdi Mohammed, Absa Bank Kenya — KES 109.8 million ($852,555)
Abdi Mohammed earned a 39.8% increase, fueled by Absa’s strong growth in interest and non-interest income. Operational expenses were quietly trimmed, signaling efficiency drives that didn’t touch the top-tier salaries.
9. Patrick Mweheire, Stanbic Bank Kenya — KES 95.5 million ($741,600)
Mweheire’s pay rose 12.8% as he focused on lending to blue-chip clients and government securities. Directors’ pay increased by 17.4%, highlighting how the financial sector continues rewarding leadership handsomely, even amid broader economic caution.
- Jane Karuku, EABL — KES 83.49 million ($648,323)
As one of the few women heading a top NSE-listed company, Jane Karuku’s salary made up 66% of her total package, with the rest in bonuses and stock options. EABL recorded KES 8.1 billion ($63 million) in profit, a 20% increase despite challenging consumer conditions.
- Kihara Maina, I&M Bank — KES 69.3 million ($538,127)
Kihara Maina was one of the rare executives to see a pay cut (9.7% decline). I&M focused on high-net-worth clients and conservative lending, reporting KES 15.3 billion ($119 million) in profit. The drop reflects that executive pay is not always guaranteed to rise, even in a largely booming sector.
By Vivian K.