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Author: Kiptoo Kosgei
- Chief executive officers (CEOs) of listed banks in Kenya took home Sh 1.4 billion in 2021
- Co-operative Bank CEO Gideon Muriuki was the highest earner during the period under review
- Former Kenya Commercial Bank (KCB) CEO Joshua Oigara was placed second behind Muriuki with compensation of Sh368.5 million
In the financial year ended December 31, 2021, the banking sector in Kenya registered a growth of pre-tax profit of 78.5 per cent.
The Central Bank of Kenya’s Bank Supervision Annual Report 2021 revealed the sector’s assets grew from KSh 5.4 trillion in December 2020 to KSh 6.0 trillion in December 2021, representing an 11.4 per cent increase.
The report revealed that customer deposits grew from Sh 127.2 billion in 2020 to Sh 136.3 billion as of December 2021.
According to The Standard, chief executive officers (CEOs) of listed banks in Kenya took home Sh 1.4 billion in 2021.
The top earners:
… 
Kenya is home to over 3,300 millionaires.
According to the 2022 Knight Frank wealth report, the number of self-made dollar millionaires increased by 39 to 3,362 in 2021.
The survey indicated that ultra-high net worth individuals (with a net worth of over Sh 3.4 billion) reduced by two 88 during the period under review.
During the release of the report, Knight Frank Wealth Report editor Andrew Shirley said he knew Kenyans for their tough resilience in running successful businesses.
“I have always been impressed by the high level of entrepreneurship in Kenya, having lived in Kenya before. You can see people creating money virtually out of nothing. Fortunes start from small seeds,” he said.
1. James Mwangi
James Mwangi is the managing director and chief executive officer of Equity Group Holdings Ltd.
The career banker grew up in Nyagatugu, a small village near the Aberdare
- M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively
- 55 of every 100 people acquire loans from digital lending applications
- Most Kenyans prefer digital lending platforms due to convenience, easy access and fast loan remittance
Kenya has experienced massive digital credit lending services growth since the launch of M-Shwari in 2012.
Digital lending apps have additionally been fueled by increased food prices and unemployment rates, forcing citizens to run to almost anything that can put food on their table. Currently, the country boasts of over 40 digital credit providers.
M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively.
The State of Digital Lending Report 2021 released by Reel Analytics, showed that
The report noted that Non-Governmental Organisations (NGOs) pay the highest salaries, with an average annual salary of KSh 3,757,013.2.
Financial and insurance sector jobs were ranked second with average annual wage earnings of Sh2.08 million per employee.
The Exchange delves into the highest paying jobs in Kenya in 2022, according to Salary Explorer.…