Besides earning millions in salaries, the top executives are usually allowed to buy shares in the companies they run
In return, they enjoy dividends paid annually based on the company’s performance
Some of the top-notch executives controlling stakes are Equity’s James Mwangi, Britam’s Benson Wairegi, Co-op Bank’s Gideon Muriuki and James Mworia (Centum)
Kenyan chief executive officers running multi-billion companies are some of the highest-paid in East Africa . Equity Bank boss James Mwangi has a 5% stake in the lender. Photo: Equity Bank. Source: Facebook Besides earning millions in salaries, the top executives are usually allowed to buy shares in the companies they run.
In return, they enjoy dividends paid annually based on the company’s performance.
A spot check by TUKO.co.ke revealed some of the top-notch CEOs in Kenya own some stakes in the companies they run.
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Some of the top-notch executives controlling stakes are Equity’s James Mwangi, Britam’s Benson Wairegi, Co-op Bank’s Gideon Muriuki and James Mworia (Centum). 1. James Mwangi
James Mwangi is the managing director and group CEO of Equity Group Holdings Limited.
The 59-year-old has been at the helm of the lender since 2004 and has managed to turn Equity into one of the biggest banks in Africa by customer base.
According to its website, as of August 2020, the lender had over 14 million customers and an asset base of $ 7.5 billion (KSh 822 billion).After joining Equity, then referred to as Equity Building Society, Mwangi converted a deposit of KSh 7 million into ordinary shares, making him one of the shareholders.He has since increased his stake in the financial institution to 188.6 million shares representing a 5% stake.In 2019, Mwangi received a dividend of KSh 377.3 million from the shares, Nairobi News reported.In 2020, however, owing to the COVID-19 pandemic that hit the economy, the career banker forego his KSh 471.7 million.He instead donated KSh 300 million to the COVID-19 emergency kitty to purchase personal protective equipment (PPEs) for frontline medical personnel. 2. Benson Wairegi Former Britam Holdings PLC group managing director Benson Wairegi controls a 4.01% stake worth KSh 715.7 million in the insurance firm.In February, after being at the helm of the company for four decades, he handed over to Zimbabwean Tavaziva Madzinga.Wairegi first bought shares at the company in 1984 after a new directive […]