Kenya’s corporate sector has seen rising executive compensation, with Chief Executive Officers (CEO) of major banks and telecommunications companies ranking among the highest-paid professionals in the country.

In the the closed 2025/26 financial year, most of the CEO’s have seen their pay rise following the financial institutions’ good performance.

The remuneration packages, which include salaries, performance bonuses, allowances, and other benefits, reflect the scale of responsibility involved in managing some of the largest organizations in East Africa.

Top Paid CEO’s in Kenya

In the 2025/26 financial year, the Top five CEO’s earned  a Total combined remuneration of KSh 1.53 billion with an Average annual remuneration KSh 306.72 million

Co-operative Bank CEO Gideon Muriuki emerged as Kenya’s highest-paid executive after receiving a total remuneration package of KSh 474.8 million, according to the lender’s latest remuneration disclosures.

His package consisted of a basic salary of KSh 172.5 million and a performance bonus of KSh 302.3 million.

Muriuki has led Co-operative Bank as the CEO since 2011, overseeing the lender’s growth, expansion of digital banking services, and continued profitability.

Safaricom CEO Peter Ndegwa is also among Kenya’s top-paid executives, earning a total compensation package of KSh 324.5 million.

According to the company’s 2026 Annual Report, Ndegwa’s total remuneration included a KSh105.4 million basic salary.

It also comprised KSh118.5 million in bonuses, KSh31.4 million in non-cash benefits, and KSh69.2 million under the Employee Performance Share Award Plan (EPSAP).

Compared to the previous financial year, Ndegwa’s total remuneration rose from KSh294.2 million to KSh324.5 million.

His basic salary also increased to KSh105.4 million, up from KSh98.7 million.

Since becoming CEO in 2020, Ndegwa has overseen Safaricom’s expansion beyond traditional telecommunications, including the company’s entry into new digital services and continued investment in regional markets, particularly Ethiopia.

Banking Sector Dominates Kenya’s Highest-Paid CEO List

The banking sector is the biggest contributor to Kenya’s highest-paid CEO rankings.

Equity Group CEO James Mwangi earned KSh 275.7 million, placing him among the country’s top corporate earners. Mwangi has transformed Equity from a small building society into one of Africa’s largest financial groups, with operations extending across several countries.

KCB Group CEO Paul Russo received KSh 250.2 million in 2025.  Russo took over leadership of KCB in 2022 and has overseen the group’s operations across East Africa and other regional markets.

KCB remains one of the region’s largest banking groups, with operations in countries including Uganda, Tanzania, Rwanda, Burundi, South Sudan, and the Democratic Republic of Congo.

NCBA Group CEO John Gachora earned KSh 208.4 million. Gachora has played a key role in steering NCBA following the merger between NIC Bank and Commercial Bank of Africa.

How Corporates determine CEO pay in Kenya

CEO compensation in Kenya is determined by factors such as company revenue, profitability, market share, shareholder returns, and the complexity of the operations executives manage.

Unlike ordinary salaries, CEO remuneration packages include incentives designed to reward long-term performance. These may include annual bonuses, stock-related benefits, retirement contributions, medical benefits, and other executive privileges.

Rank CEO Company Total Annual Remuneration
1 Gideon Muriuki Co-operative Bank KSh 474.8 million
2 Peter Ndegwa Safaricom PLC KSh 324.5 million
3 James Mwangi Equity Group KSh 275.7 million
4 Paul Russo KCB Group KSh 250.2 million
5 John Gachora NCBA Group KSh 208.4 million

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List of Kenya's Highest-Paid CEOs and Their Annual Salaries in 2026
Collage of Kenyan banks: Equity, KCB, and Co-operative Banks. PHOTO/ Equity, KCB Co-op Bank