As the majority of Kenyans feel the pinch of hard economic times, one class of the country’s billionaires continue to expand. One unique character whose payslip has stunned many Kenyans is KCB’s Bank CEO Joshua Oigara.
According to reports obtained from the Bank, Joshua Oigara earned a whooping Ksh272 million in 2018. The figure which includes salary bonuses and allowances cuts down to approximately Ksh23 million per month.
The amount earned by Joshua Oigara is an increase of 6.6 percent from the previous year where he earned Ksh147 million. Despite his allowances dropping from Ksh20 million in 2017 to Ksh10 Million in 2018, the CEO’s income did not drop because of the high amount of bonus that he took home.
His bonus is attributed to KCB group’s 21.8 percent growth in profits to Ksh24 billion, the highest number ever recorded. Oigara’s basic salary rose by Ksh3 million to Ksh68 million while gratuity increased by Ksh1 million to Ksh14 million.
His non-cash benefits that include medical insurance cover, club membership and professional indemnity cover remained flat at Ksh1 million as outlined by a report on Business Daily. Narrowing down from the Ksh273 million means the CEO was earning an equivalent of Ksh22.75 million per month, Ksh 725,000 per day and Ksh 30,208 per hour.
This put him among the top earners in the country.
An earlier report indicated that in 2017, Centum Investment CEO James Mworia went home with a total of Ksh375.6 million. The remuneration, which extended Mworia’s record as corporate Kenya’s highest-paid CEO, was equivalent to Ksh31.3 million per month.