Safaricom Pays CEO Bob Collymore Over Half a Million Shillings Per Day

Safaricom Chief Executive Officer (CEO) Bob Collymore pocketed about Sh540,000 per day in remuneration, the company's annual report has revealed.

The yearly report from Safaricom's financial year ending March, 2018 shows that Collymore earned a total of Sh196.47 million, translating to Sh16.4 million per month. 

This reflects an increase of 16 percent on his salary compared to the previous financial year, when the CEO earned Sh164.45 million. 

The huge pay included an annual basic salary of Sh94.32 million, Sh32.42 million bonus, non-cash benefits worth Sh35.64 million and a stake in the company worth Sh34 million.

Safaricom Chief Financial Officer (CFO) Sateesh Kamath took home Sh 96.6 million during the year, which included Sh52.79 million basic salary.

Former CEO Michael Joseph, who is now a board member pocketed Sh2.93 million while Bitange Ndemo, a Safaricom board member earned Sh2.61 million.

Susan Mudhume, a non-executive director at Safaricom was paid Sh 8.48 million, bringing the total remuneration bill for all executive and non-executive directors to Sh327.47 million for the year.

The Chairman of the Board earned Sh85,000 sitting allowance per meeting, Non-executive directors received a sitting allowance of Sh50,000 per meeting.

Currently, the telco has 6,130 employees comprising of permanent staff and contractors who received a total of Sh9.18 billion in salaries.