Safaricom CEO Peter Ndegwa earned $2.2 million in total compensation for the year ending March 2025, marking a 17% pay increase and making him the highest-paid executive listed on the Nairobi Securities Exchange (NSE).
Ndegwa’s pay package included a $765,100 salary, a $904,600 bonus, $259,187 in non-cash benefits, and $351,155 from Safaricom’s Employee Performance Share Award Plan. This rise in pay follows Safaricom’s return to profit growth, with net earnings up 11% to $540 million, driven by strong mobile money and data services and reduced losses in Ethiopia.
Other top executives also saw pay hikes. Chief Financial Officer Dilip Pal earned nearly $1 million, up from $882,000 the previous year. Together, the CEO and CFO took home $3.2 million, a 16.5% increase. Safaricom’s board members also received higher remuneration, with total director pay rising 10% to $3.8 million.
Safaricom remains Kenya’s dominant telecom and digital payments company and the most profitable listed firm in East and Central Africa. The company is optimistic about its long-term growth, especially in Ethiopia, despite earlier setbacks.
Safaricom’s continued financial performance and strategic moves in East Africa will be closely watched by investors and the public alike.
