Safaricom Chief Executive Officer (CEO) Peter Ndegwa earned KSh324.5 million in total remuneration during the financial year ended March 31, 2026.
According to the company’s 2026 Annual Report, Ndegwa’s total remuneration included a KSh105.4 million basic salary.
It also comprised KSh118.5 million in bonuses, KSh31.4 million in non-cash benefits, and KSh69.2 million under the Employee Performance Share Award Plan (EPSAP).
Compared to the previous financial year, Ndegwa’s total remuneration rose from KSh294.2 million to KSh324.5 million.
His basic salary also increased to KSh105.4 million, up from KSh98.7 million.
Safaricom Reports Higher Executive Remuneration in FY2026
On the other hand, Safaricom Chief Financial Officer Dilip Pal also recorded an increase in remuneration during the financial year.
According to the annual report, his total pay package rose to KSh147.5 million from KSh132.5 million in FY2025.
The package comprised a KSh65.7 million basic salary, KSh43 million in bonuses, KSh18.5 million in non-cash benefits, and KSh20.3 million under the Employee Performance Share Award Plan (EPSAP).
His basic salary increased from KSh63.3 million in the previous financial year.
Comparison with FY2025
| Executive | Salary | Bonus | Non-Cash Benefits | EPSAP | Total Remuneration |
|---|---|---|---|---|---|
| Peter Ndegwa | 105.4 | 118.5 | 31.4 | 69.2 | 324.5 |
| Dilip Pal | 65.7 | 43.0 | 18.5 | 20.3 | 147.5 |
Other Executives
The annual report further showed that Safaricom’s non-executive directors received a combined KSh74.5 million in fees during FY2026, compared to KSh84.7 million in the previous financial year.
Board Chair Adil Khawaja earned KSh16.2 million, while Vice Chair Risper Alaro received KSh7.2 million.
Other non-executive directors earned between KSh4.5 million and KSh7.1 million, depending on their board committee roles and responsibilities.
| Non-Executive Director | FY2026 (KSh million) | FY2025 (KSh million) |
|---|---|---|
| Adil Khawaja (Chairman) | 16.2 | 16.4 |
| Risper Alaro (Vice Chair) | 7.2 | 6.9 |
| John E. Gachora | 6.4 | 6.2 |
| Karen Basiye | 7.1 | 6.8 |
| Nicholas Ng’ang’a | 6.9 | 6.7 |
| Thomas Nyamache | 5.5 | 5.5 |
| Michael Joseph | 5.7 | 5.7 |
| Martin Mutuku | 5.0 | 5.0 |
| Nunu Ntshingila | 5.1 | 5.0 |
| Isaias Mare | 4.7 | 4.5 |
| Hellen Omondi | 4.7 | New |
| Fawzia Ali | Left Board | 5.9 |
| Total Non-Executive Directors’ Fees | 74.5 | 84.7 |
Changes in CEO Appointments
The latest remuneration disclosures also precede Safaricom’s Annual General Meeting, where shareholders are expected to consider proposed governance changes affecting the appointment of the company’s top leadership.
The proposed amendments to the telecommunications firm’s Articles of Association are contained in the notice for its Annual General Meeting (AGM) scheduled for July 31, 2026.
Among the key proposals is a provision that would allow Vodafone Kenya Limited (VKL) to nominate Safaricom’s chief executive officer if it holds more than 50 percent of the company’s issued and fully paid share capital.
While the board would retain the authority to appoint the CEO, the CEO would be nominated by VKL under the proposed rules.
