Safaricom Chief Executive Officer Peter Ndegwa earned Sh324.5 million in total remuneration during the 2025/26 financial year, marking a 10.3 per cent increase from the previous year, according to the company’s latest annual disclosures.
The pay rise was largely driven by a sharp increase in employee share awards, even as some of his non-cash benefits declined
Ndegwa’s basic salary rose 6.8 per cent to Sh105.4 million, while his annual bonus increased 1.5 per cent to Sh118.5 million. His non-cash benefits, however, fell 6.3 per cent to Sh31.4 million.
The biggest jump came from employee share awards, which rose 52.8 per cent to Sh69.2 million, lifting his overall remuneration package to Sh324.5 million.
Safaricom Chief Financial Officer Dilip Pal also received a higher compensation package during the year, with his total remuneration rising 11.3 per cent to Sh147.5 million.
Pal’s basic salary increased 3.8 per cent to Sh65.7 million, while his annual bonus dipped marginally by 0.5 per cent to Sh43 million. His non-cash benefits declined 3.6 per cent to Sh18.5 million.
Like the CEO, Pal’s overall earnings were boosted by a significant rise in employee share awards, which surged 198.5 per cent to Sh20.3 million.
The remuneration disclosures highlight the growing role of equity-based incentives in executive compensation, with share awards accounting for a larger proportion of pay packages for the company’s top executives.
The latest compensation figures come as Safaricom continues to invest in expanding its digital services and regional operations while maintaining its position as East Africa’s most profitable telecommunications company.
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