Highest Paid CEO in Kenya! Top 20 Best Paid CEOs 2024

A CEO (short for Chief Executive Officer) is the highest-salaried worker at any organization, and the job usually comes with a fat paycheck. Currently, the highest-paid CEO in Kenya makes over Ksh 1.2 million per day. 

Today, the highest paid CEO in Kenya is Co-operative Bank Chief Boss Gideon Muriuki, who, according to reports, earns an average of Ksh 1.2 million per day, which translates to Ksh 36 million a month. 

However, Mr Muriuki is not the only highly-paid CEO in Kenya. Many others take home millions every month, including Safaricom CEO Peter Ndegwa, Stanbic CEO Joshua Oigara, KCB Group CEO Paul Russo, Equity Group Bank CEO James Mwangi, NCBA Bank CEO John Gachora, and EABL CEO Jane Karuku. 

We’ll talk about the country’s top 20 highest-paid CEOs and their earnings to help you understand them better and possibly motivate you to target such a high office at some point. 

So, let’s dive in!

highest paid CEO in Kenya

In a rush? Below is a quick overview of the best-paid CEOs in Kenya. 

List of Highest Paid CEOs in Kenya – Top 20

CEO’s NameOrganization/CompanyEstimated Annual Earnings (Ksh)
1.Gideon Muriuki Co-operative Bank428.2 million 
2.Peter Ndegwa Safaricom 317 million 
3.Joshua OigaraStanbic Bank Kenya264 million 
4.Paul RussoKCB Group217.40 million 
5.James Mwangi Equity Group Holdings 213.64 million 
6.John GachoraNCBA Bank 147.73 million 
7.Jane KarukuEast Africa Breweries Ltd126.37 million 
8.Kariuki NgariStanchart Kenya121.57 million 
9.Ronald KarauriSportpesa 120 million 
10.Abdi Mohamed Absa Bank Kenya78.5 million 
11.Tom GitongoBritam Holdings 69.6 million 
12.Nasim Devji Diamond Trust Bank Kenya65.7 million 
13.James MworiaCentum 48.8 million 
14.Stephen GitagamaNation Media Group41.8 million 
15.Julius Kipng’etichJubilee Holdings Over 30 million 
16.Peter MwangiUAP Old Mutual Over 30 million 
17.Githinji GitahiAmref Over 30 million 
18.Rita KavasheIsuzu East Africa Over 30 million 
19.Nancy NjauFamily Bank Over 30 million 
20.Allan Kilavuka Kenya Airways Over 30 million 

Top 20 Highest-Paid CEOs in Kenya

Below is everything to know about the top 20 Kenya’s highest-paid CEOs:

1. Gideon Muriuki (Ksh 428.2 Million Per Year)

According to the Daily Nation, Co-operative Bank CEO Gideon Muriuki earns roughly Ksh 1.2 million a day, which means the estimated Co-operative Bank CEO salary per month is about Ksh 36 million, which undoubtedly makes Gideon Muriuki the highest-paid CEO in Kenya today.

The report also claims that Muriuki took home an estimated Ksh 428.2 million for the 2022/2023 financial year, including the bonuses. The rise has been steady for Muriuki, who joined Coop Bank as a senior corporate manager before steadily rising to the ranks of MD and CEO. 

2. Peter Ndegwa (Ksh 317 Million Per Year)

Peter Ndegwa is the current CEO of Safaricom, undeniably the leading telecommunication company in Kenya. He reportedly makes over Ksh 317 million yearly as Safaricom’s Chief if you throw in the bonuses. 

Before joining Safaricom, Peter Ndegwa served as a managing director for British Alcohol Company Diageo, Consultant for Prime Waterhouse Coopers UK, Director of Strategy for EABL, and Managing Director of Guinness Ghana Breweries Limited. He replaced the late Bob Collymore as Safaricom Chief in 2019. 

top 20 highest paid CEOs in Kenya

3. Joshua Oigara (Ksh 264 Million Per Year)

Joshua Nyamweya Oigara is the current CEO of Stanbic Bank Kenya, a position he has held since 2022. Previously, he served as the group CEO of KCB Bank.  According to Business Today, Oigara earns an estimated Ksh 264 million a year, which is unsurprising given his wealth of experience. 

He holds a bachelor of Commerce degree from the University of Nairobi and an MBA from Edith Cowan University in Perth, Australia. He’s a member of ICPAK (Institute of Certified Public Accountants of Kenya). 

4. Paul Russo (Ksh 217.4 Million Per Year)

Paul Russo is the Group CEO of Kenya Commercial Bank (KCB) Group, a position he has held since 25th May 2022. Before joining KCB as group CEO, Russo served as CEO of the National Bank of Kenya. 

His career, however, goes way back to 2000 when he joined Kenya Breweries Limited, now East Africa Breweries Limited, as part of the human resource department. 

He has also worked at Absa Bank Kenya, Sidian Bank (previously K-rep Bank), and PWC Kenya and replaced Joshua Oigara (covered earlier) at KCB Bank. Russo reportedly makes Ksh 217.4 million a year at KCB Group. 

5. James Mwangi (Ksh 213.64 Million Per Year)

James Mwangi is one of the most famous faces in the Kenyan banking sector. Though most assume he owns Equity Group Holdings, he only serves as its CEO and managing director. 

According to the Business Daily, Mwangi made 213.64 million in 2023. So, while the salary changes yearly depending on the group’s performance, the estimated Equity CEO salary amounts to millions monthly. 

Mwangi has been the CEO of Equity Group Holdings since 2004, making him one of the longest-serving CEOs in Kenya. 

6. John Gachora (Ksh 147.73 Million Per Year)

John Gachora is the current CEO and Managing Director of NCBA Group, a banking conglomerate with subsidiaries in Tanzania, Rwanda, Uganda, and Kenya. Previously, Gachora served as a managing director at Bank of America in Charlotte, North Carolina, USA, and later as CEO of Absa Group. 

He also went on to work as the Group CEO and managing director of NIC Bank Group, which merged with Commercial Bank of Africa (CBA) in 2019 to form what we now know as NCBA and retained his positions. He reportedly earns over Ksh 147.73 million per year as CEO and MD of NCBA Group. 

7. Jane Karuku (Ksh 126.37 Million)

Jane Karuku is currently the highest paid female CEO in Kenya. She is the CEO and Managing Director of East African Breweries Limited (EABL), where she reportedly took home over Ksh 126.37 million last year. 

Before joining EABL, Karuku served as MD of Cadbury, Secretary General and Deputy Chief Executive of Telkom Kenya, and President of AGRA (Alliance for a Green Revolution in Africa). 

She is a member of EABL’s board, a non-executive director at Absa Bank, and the chair of the Kenya Vision 20230 Board. 

list of highest paid CEOs in Kenya

8. Kariuki Ngari (Ksh 121.57 Million Per Year)

Kariuki Ngari is the CEO of Standard Chartered Bank Kenya, where he reportedly earns Ksh 121.57 million annually. Ngari is a seasoned professional who has held top-level leadership positions in the country and beyond. 

His impact at Stanchart Kenya has been immense since taking over the CEO docket, and that explains why he’s been paid that much. 

9. Ronald Karauri (Ksh 120 Million Per Year)

Ronald Karauri is the Chief Executive Officer of betting firm Sportpesa and the current Kasarani member of parliament. Karauri is a retired pilot who dropped out of the University of Nairobi to join Kenya Airways. 

He was quite skilled and even rose to become the secretary general for Kenya Airline Pilots Association before landing the Sportspesa job. Karauri reportedly earns over Ksh 10 million monthly as Sportspesa boss, which translates to Ksh 120 million yearly. 

10. Abdi Mohamed (Ksh 78.5 Million Per Year)

Abdi Mohamed is currently the CEO of Absa Bank Kenya, where he reportedly earns over Ksh 78.5 million per year. He’s an accomplished business executive with 15+ years at the top level. 

He has been Absa Kenyans CEO since 1st May 2023 and has been with the bank for over 28 years. 

Before joining Absa Bank Kenya as CEO, Mohamed held a similar position at Absa Bank Tanzania and served as its Chief Operating Officer. He holds a Bachelor of Commerce Degree from Kenyatta University and an MBA from Edith Cowan University. 

11. Tom Gitonga (Ksh 69.6 Million Per Year)

Tom Gitonga is currently the Group CEO and Managing Director of Britam Holdings, and he’s estimated to make over Ksh 69.6 million a year. Britam Holdings is a leading financial service company in Africa, and it is present in Kenya, Rwanda, Tanzania, Uganda, Malawi, South Sudan, and Mozambique. 

He joined Britam Holdings in 2022, but before then, he served as the Group CEO of Sanlam Insurance and CIC. Gitonga holds a Bachelor’s degree in Civil Engineering from Nairobi University and a master’s in Business administration from Moi University. 

12. Nasim Devji (Ksh 65.7 Million Per Year)

Nasim Devji is a corporate executive serving as the CEO and managing director of Diamond Trust Bank (DTB) Kenya. Though DTB Group has its headquarters in Nairobi, it also has subsidiaries in Uganda, Burundi, and Tanzania. 

At DTB Group, Devji started as a regional financial controller in 1996. Five years later, she was promoted to the group’s CEO and managing director, a position she has held since then. According to a Standard Media report, Devji makes about Ksh 65.7 million yearly. 

highest paid bank CEO in Kenya

13. James Mworia (Ksh 48.8 Million Per Year)

Dr. James Mworia is the current CEO and managing director of Centum Investment Company, the largest publicly traded private capital company in East Africa. 

In 2017, New African Magazine recognized Mworia among the Top 100 Most Influential Africans. He has been Centum CEO since 2008, but before that, he started as a filing clerk at the firm in 2001 despite possessing a law degree and steadily climbed the ranks. 

In 2006, he was appointed the head of investments at Trans Century Investment before rejoining Centum in 2008 as CEO and MD. During his first six years as Centum Boss, he improved the firm’s assets base from Ksh 6 billion to Ksh 30 billion. 

The Centum CEO salary is estimated to be around Ksh 48.8 million annually.

14. Stephen Gitagama (Ksh 41.8 Million Per Year)

Stephen Gitagama is currently the Group Chief executive officer of Nation Media Group and a director of its subsidiary companies. 

Before joining Nation Media Group, Mr. Gitagama was the finance director at East African Breweries Limited (EABL). He holds a bachelor of Commerce Degree from the University of Nairobi. 

Furthermore, he’s a certified public accountant (CPA). According to reports, Stephen Gitagama makes about Ksh 41.8 million a year as CEO of Nation Media Group. 

15. Julius Kipng’etich (Ksh 30 Million Plus Per Year)

Julius Kipng’etich is the regional CEO of Jubilee Holdings Limited, making over Ksh 30 million a year. Previously, he served as the CEO of Uchumi Supermarket Ltd, an investment promotion center and Kenya Wildlife Service. 

Kipng’etich has also previously served as the Chief Operating Officer (COO) for Equity Group Holdings, a lecturer for the University of Nairobi, and a member of the Kenya Tourism Board. 

16. Peter Mwangi (Ksh 30 Million Plus Per Year)

Peter King’ori Mwangi is the Group CEO and Managing Director of UAP Old Mutual Group, a Kenyan financial service conglomerate. In addition to Kenya, UAP Old Mutual has subsidiaries in five other countries, including South Sudan, Uganda, DRC, Rwanda, and Tanzania.

Mwangi is a former lieutenant of the Kenya Air Force, where he served as a Technical Officer for six years before being promoted to the rank of captain. He also worked for ICDC Investment Company as a Managing Director and Centum as CEO before joining UAP Old Mutual, where he reportedly makes over Ksh 30 million annually. 

17. Githinji Gitahi (Ksh 30 Million Plus Per Year)

Githinji Gitahi is a medical doctor who serves as Amref Health Africa’s CEO. Previously, he was a commissioner for the Africa COVID-19 commission and co-chair of the UHC 2030 Steering Committee. 

He holds a bachelor’s degree in Medicine and Surgery from the University of Nairobi, a certificate for strategic performance from Harvard University, and an MBA from USIU. Gitahi has been the CEO of Amref since 2015, reportedly earning over Ksh 30 million a year. 

Kenya’s highest paid CEOs

18. Rita Kavashe (Ksh 30 Million Plus Per Year)

Rita Kavashe is another highly paid female CEO. She is the CEO of Isuzu Motors East Africa Limited, where she also served as a Managing Director. 

Kavashe also serves as the chairperson of the Kenya Motor Industry Association and an independent non-executive director for Bamburi Cement Company and British American Tobacco Kenya. 

Moreover, she’s a member of the GCAA (Governing Council of the Automobile Association of Kenya). According to reports, she makes over Ksh 30 million annually as CEO of Isuzu Motors East Africa.

Kavashe hails from Taita Taveta county and boasts a degree in education from Moi University and a Master’s in Business Administration from the University of Nairobi. 

19. Nancy Njau (Ksh 30 Million Plus Per Year)

Nancy Njau is another high-paying female CEO in Kenya. She’s estimated to make over Ksh 30 million a year and is currently the CEO and managing director of Family Bank.

Njau has a wealth of experience in the banking sector. She began as a graduate clerk in 2002 at Family Bank and served in different roles such as Branch Manager, Head of Retail Banking Regional Manager, and acting CEO. She holds a bachelor of commerce degree from Kenyatta University and a master’s in business administration from JKUAT. 

20. Allan Kilavuka (Ksh 30 Million Plus Per Year)

It’s hard to talk about the highest paid CEOs in Kenya without mentioning arguably the most desirable job, and that’s the CEO of Kenya Airways. The position is occupied by Allan Kilavuka, who, according to reports, makes over Ksh 30 million a year.

Kilavuka has been CEO of KQ since 2020, but he previously worked for Jambo Jet. He holds a bachelor of commerce degree from the University of Nairobi and a psychology certification from the University of Liverpool, UK. 

Concluding Thought On the Highest Paid CEO in Kenya:

You now know how much the highest paid CEO in Kenya earns, and we are talking millions. This information is, however, not meant to intimidate you but to serve as motivation that anything is possible. Anyone can aim for the highest office. It’s all achievable with the right drive, dedication, and training. 

Our goal as Cent Warrior is to impart and motivate you financially. That’s why we’ve assembled wealthy financial resources on our online store, which you can check to keep your financial well-being in check. You can also discover ways to make money work for you and not vice versa. 

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Written by Alex

Written by Alex

I have passion in helping people Make, Manage, Multiply & Protect Wealth.Download my Free Guide to Financial Freedom >>[ GET IT HERE]<<