Safaricom CEO Peter Ndegwa Takes Home $2.2M in FY2025, Marking 17% Pay Rise

Nairobi, Kenya — July 9, 2025

Safaricom CEO Dr. Peter Ndegwa earned KES 294.2 million (approx. $2.2 million) in total compensation for the financial year ending March 2025, according to the company’s latest disclosures. The figure represents a 17% increasefrom the previous year, cementing Ndegwa’s position as one of Kenya’s highest-paid executives.

The record payout underscores Ndegwa’s performance-driven leadership as the telco continues to scale new heights across East Africa.

Breakdown of Compensation:

• Salary: KES 98.7 million ($765,100)

• Annual Bonus: KES 116.7 million ($904,600)

• Non-Cash Benefits: KES 33.5 million ($259,187)

• Employee Performance Share Award Plan (EPSAP): KES 45.3 million ($351,155)

While the company did not provide itemized details for the non-cash benefits, typical perks in this category for top executives in Kenya often include housing, school fees, vehicle allowances, club memberships, and personal security.

Dr. Ndegwa, who became Safaricom’s first Kenyan CEO in April 2020, has overseen a major transformation of the company. Under his stewardship, Safaricom launched operations in Ethiopia, grew its enterprise and digital services, and solidified its reputation as East Africa’s most profitable firm — with earnings before interest and tax (EBIT) surpassing $1 billion in the reporting period.

In addition to his executive role, Ndegwa was honored with a Commander of the Order of the Burning Spear (CBS) in 2023 and now serves as Chancellor of Meru University of Science and Technology.

As Safaricom sharpens its focus on fintech, healthtech, and regional expansion, industry analysts say Ndegwa’s pay bump reflects not just market dynamics, but a clear vote of confidence from the board.

“Peter’s leadership has delivered both purpose and performance. Safaricom’s transformation from a telecom to a tech powerhouse is well underway,” a senior executive at the firm told Streamline Feed on condition of anonymity.

The company’s annual report also hinted at deeper investments in innovation, inclusive access, and ESG priorities — all central themes in Ndegwa’s leadership narrative.