Kenya’s corporate sector continues to reward executive leadership handsomely, especially in industries such as banking, telecommunications, investments, and manufacturing. The highest paid CEOs in Kenya earn their compensation through a mix of base salary, performance bonuses, deferred benefits, and allowances tied to company profitability and shareholder value.
These executives oversee some of the most profitable companies in East Africa. Their pay packages reflect not only personal performance but also strong balance sheets, rising profits, and sustained market dominance by the institutions they lead. While exact figures vary annually, public disclosures and annual reports provide a clear picture of who tops the list.
Below is a ranked list of the top seven highest paid CEOs in Kenya, ordered from the highest earner downward, based on the most recently reported figures.
1. Gideon Muriuki
Gideon Muriuki, the Managing Director and CEO of Co-operative Bank of Kenya, remains the highest paid CEO in Kenya. His daily earnings exceed KSh 1.2 million, translating to over KSh 36 million per month.
For the 2022/2023 financial year, his total compensation, including bonuses, reached approximately KSh 428.2 million. Muriuki joined the bank in 1996 and has steadily risen through the ranks, overseeing significant growth in assets, profits, and regional influence.
2. Peter Ndegwa
Peter Ndegwa, CEO of Safaricom, is the first Kenyan to lead the telecom giant. In 2023, his total pay stood at about KSh 313 million.
His compensation included a base salary of roughly KSh 95.24 million, alongside bonuses and non-cash benefits worth about KSh 196.27 million. Under his leadership, Safaricom has continued to post record profits and maintain its dominance in East Africa.
3. Paul Russo
Paul Russo, the CEO of KCB Group, earned approximately KSh 217.4 million after taking over leadership from Joshua Oigara.
His pay package comprised a salary of KSh 72.7 million, performance bonuses of KSh 99.3 million, and deferred compensation amounting to KSh 24.8 million. His appointment marked a leadership transition at one of the region’s largest banking groups.
4. James Mwangi
James Mwangi, the long-serving CEO of Equity Bank Group, saw his compensation rise sharply following strong financial performance.
In 2022, his pay increased by about 49 percent to KSh 213.64 million, up from KSh 143 million the previous year. The package included a KSh 53 million bonus, reflecting Equity’s growth across Africa.
5. John Gachora
John Gachora, CEO of NCBA Group, earned approximately KSh 147.73 million after the bank recorded a 35 percent increase in profits.
His compensation included a KSh 40 million bonus, underscoring the direct link between executive pay and institutional performance in Kenya’s banking sector.
6. Jane Karuku
Jane Karuku, CEO of East African Breweries Limited, is currently the highest paid female CEO in Kenya.
In 2023, she earned about KSh 126.37 million. Her package featured KSh 66.8 million in bonuses and approximately KSh 9.67 million in allowances and benefits, reflecting strong performance in the beverages sector.
7. James Mworia
James Mworia, CEO of Centum Investment Company, rounds out the list.
For the year ending March 2023, he earned KSh 45.5 million in salary, with an additional KSh 3.3 million in pension contributions, bringing his total compensation to about KSh 48.8 million.
These executives highlight how leadership performance, company profitability, and shareholder returns shape executive pay in Kenya. The highest paid CEOs in Kenya are concentrated in sectors that drive economic growth, including banking, telecoms, and investments, where strategic decision-making has a direct impact on national and regional markets.
