Ten Highest Paid Non-Executive Directors in Kenya

Chairpersons of a host of top Kenyan companies listed in the Nairobi Securities Exchange (NSE) have emerged as some of the highly paid individuals in corporate sector.

Business Daily has identified the top ten non-executive directors who pocket millions of shillings in salaries, retainers, director fees, sitting allowances and bonuses annually from the companies.

Chairman of KenolKobil James Mathenge, Michael Joseph (Kenya Airways), Ngeny Biwott (KCB) and Unga Group’s  Isabella Ochola-Wilson topped the list of highest paid non-executive directors.

KenolKobil's Mathenge took home a total of Sh24.6 million in the year ended December, becoming Kenya's highest paid non-executive director. This amount include Sh14.9 million bonus and Sh9.7 million fees that almost doubled from Sh5.3 million the previous year.

Mathenge, alongside the company’s chief executive, David Ohana, are credited for the oil marketer's turn around, with the firm returning to profitability in 2017.

National carrier Kenya Airways' Chairman Michael Joseph comes in second with a compensation totaling to Sh13.5 million, followed by KCB's Biwott who earned Sh13 million. Biwott is the highest-paid chairman in the banking industry.

Coming in fourth is Equity Group Chairman Peter Munga, who took home Sh11 million in the same period, while billionaire Andrew Ndegwa of Unga Group closed the list of five most paid Chairpersons with a total pay of Sh10.3 million.

Co-op bank chairman John Murugu is the sixth highest paid non-executive director with Sh10 million, followed by Mrs Ochola-Wilson of NIC Group (Sh8.7 million) and Dennis Awori of Carbacid (Sh7.9 million).

CIC Group's chair Japheth Magomere pocketed Sh7.3 million, while Charles Muchene of Barclays Bank of Kenya (Sh6.6 million) closed the list of top ten most paid company Chairpersons.