Breaking down the numbers: How Safaricom CEO earned Ksh324 million in 2025/26 financial year
By Mustafa Juma, July 13, 2026Safaricom Chief Executive Officer Peter Ndegwa earned Ksh324.5 million during the financial year ended March 2026, making him one of Kenya’s highest-paid corporate executives after leading the telecommunications giant to a record Ksh119.1 billion net profit.
The figure, disclosed in Safaricom’s FY2026 Annual Report, represents a 14.2 per cent increase from the Ksh284.2 million he earned in the previous financial year.
But how exactly did the CEO arrive at the Ksh324.5 million package?
The salary component: Ksh105.4 million
Ndegwa’s fixed annual salary stood at Ksh105.4 million, up from Ksh95.4 million in FY2025.
This translates to an average monthly basic salary of about Ksh8.8 million before bonuses, benefits and share awards are included.
The biggest jump: Ksh118.5 million bonus
The largest contributor to the increase in his pay package was the performance bonus, which rose sharply from Ksh89.5 million in FY2025 to Ksh118.5 million in FY2026.
The Ksh29 million increase in the bonus reflects Safaricom’s strong financial performance during the year, with the company posting double-digit growth across revenue, earnings and cash flow.
Benefits and perks: Ksh31.4 million
In addition to salary and bonus, the CEO received Ksh31.4 million in non-cash benefits.
These typically include items such as housing, transport, medical cover, insurance and other executive benefits provided under Safaricom’s remuneration framework.
The amount was slightly higher than the Ksh29.7 million recorded in the previous year.
Shares worth Ksh69.2 million
A substantial portion of Ndegwa’s compensation came through Safaricom’s Employee Performance Share Award Plan (EPSAP), which awarded him Ksh69.2 million in shares.
Although marginally lower than the Ksh69.6 million awarded in FY2025, the share-based incentive remains one of the largest components of his remuneration package.
Safaricom did not pay him any directors’ fees.
What changed from the previous year?
Peter Ndegwa’s overall increase of Ksh40.3 million was driven primarily by the higher performance bonus.
He witnessed a salary increase of Ksh10 million from the previous year, a Ksh29 million increase in bonus, a Ksh1.7 million increase in benefits, and a Ksh400,000 increase in share awards.
Why the bonus rose
Safaricom delivered one of the strongest financial performances in its history during the year.
How much did Safaricom CEO earn per day?
Based on the annual package of Ksh324.5 million, Ndegwa earned approximately Ksh27 million per month, Ksh6.2 million per week, Ksh889K per day, and Ksh37K per hour.
That means the Safaricom boss earned roughly Ksh889,000 every day over the course of the financial year.
Not Kenya’s highest-paid CEO
Despite the sizeable package, Ndegwa is not the highest-paid executive in Kenya.
Based on the latest remuneration disclosures by listed companies, Gideon Muriuki remains the country’s top corporate earner with a package of approximately Ksh474.8 million, followed by Ndegwa at Ksh324.5 million.
Ndegwa’s compensation has become a major talking point because it coincides with Safaricom’s transition from a traditional telecommunications company into a technology and financial services powerhouse.
Under his leadership, M-PESA has grown into a Ksh182.7 billion business; the platform processed Ksh41.68 trillion in transactions during FY2026, and Safaricom now contributes an estimated 5 per cent of Kenya’s GDP while supporting more than 1.3 million jobs.