Top Kenyan executives smiled all the way to the bank in 2020 after they received KSh1.84 billion in perks
However, this was a drop from KSh 1.91 billion earned in 2020
Co-op Bank boss Gideon Muriuki was the highest-paid executive in 2020, taking home a total of KSh 377.3 million
Despite the COVID-19 pandemic ravaging the economy and crippling markets, the highest-paid chief executive officers in the country continued to enjoy excellent salaries and huge allowances. Co-op Bank group MD Gideon Muriuki was awarded the largest bonus in 2020. Photo: Co-op Bank Kenya. Source: UGC The top CEOs running multi-billion companies take home hundreds of millions annually.
According to The Standard , top executives smiled all the way to the bank in 2020, after they received KSh1.84 billion in perks, a drop from KSh 1.91 billion earned in 2020.
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A report by Whoownskenya.com showed Co-operative Bank CEO Gideon Muriuki topped the list with a monthly salary of KSh 31.37 million per month. TUKO.co.ke delved into five highest-paid CEOs in Kenya and the amount they earn annually. 1. Gideon Muriuki
Gideon Muriuki is the group managing director and CEO of Co-operative Bank. He earned a total of KSh 377.3 million in salaries and allowances in 2020.
The experienced banker joined the lender in 1996 as a senior corporate manager and steadily climbed up the ladder.
In 1999, he was promoted to director of corporate and institutional banking before being appointed the bank’s manager in 2001 after the bank reported a loss of KSh 2.3 billion.
With a bachelor of science degree in Mathematics and an honorary doctorate in business management, he has managed to steer Co-op Bank to one of the most profitable financial institutions.In the first half of 2021, Co-op Bank recorded a KSh 7.4 billion after-tax profit for the second quarter of 2021, a 2.8% increase compared to the same period in 2020.Due to the excellent performance, Muriuki pocketed a record KSh 260.3 million bonus .Muriuki was awarded the huge amount, which was the largest in the banking industry, for protecting shareholder’s returns amid the COVID-19 pandemic.Muriuki is paid a monthly salary of KSh 31.37 million per month. This makes him the highest-paid CEO in Kenya. 2. James Mwangi Mwangi rose from a simple livestock herder to head Equity Bank , one of the region’s […]