Some of Kenya's top paid CEO's. [Photo/ businessdailyafrica.com]
Seven companies listed at the Nairobi Stock Exchange have disclosed what their chief executives earned in 2016.
Sanlam Kenya, Nairobi Securities Exchange (NSE), Deacons East Africa, KenolKobil, KenGen and Kenya Re made to the list of firms leading the executive pay transparency drive after announcing a mix of flat and higher pay for their CEO’s in 2016.
The Capital Markets Authority (CMA) had in 2014 proposed a law compelling listed companies to publish details of executive pay but later dropped the proposal after lobbying by CEOs.
KenolKobil’s David Ohana was ranked top paid chief executive after earning Sh6.6 million per month (Sh79 million a year) in the year ended December 2016 following a rise in his compensation.
Sanlam’s Mugo Kibati came second with a package of Sh3.3 million a month having a received an 18.1 per cent salary rise from Sh2.8 million in 2015 when he replaced Tom Gotogo while Allan Walmsley of Sameer, who pay stayed at Sh2.1 million a month was third highest paid in a year the company’s net loss widened to Sh652.1 million.
Fourth in the list was KenGen managing director Albert Mugo who earned Sh1.9 million a month.
Deacons Kenya Limited’s Muchiri Wahome (Sh1.8 million a month) and Nairobi Securities Exchange chief executive officer Geoffrey Oundo who received Sh1.8 million monthly pay were ranked fifth and sixth respectively.