The sports category has moved to a new website.

Meet former Kenyan CEO who earns Sh1.5 million a month for part time job

The top banker's compensation fee is more than what most Kenyan CEOs earn per month

___6740304___https:______static.pulse.com.gh___webservice___escenic___binary___6740304___2017___5___26___15___stanbank_147_0

A South African bank paid an ex-KCB senior executive close to 1.5 million to offer his expertise in financial services.

Former KCB CEO Martin Oduor-Otieno was paid an equivalent of Sh1.47 million per month in 2016 for being a non-executive director of South Africa’s Standard Bank Group.

In an annual report released by the bank regarding compensation of its board of directors, Mr Oduor-Otieno was paid a total of Sh17.7 million in the year ended December 2016.

ADVERTISEMENT

The earnings are a stark contrast to what non-executive directors get paid at most of Kenya’s publicly traded companies, including BAT Kenya , stand at less than Sh17 million per year.

This however excludes Safaricom and Equity Group which paid Sh21.3 million and Sh47 million respectively.

Mr Oduor-Otieno currently runs a private consultancy business and also serves as a board member of British American Manufacturer (BAT) Kenya.

His compensation, which surpasses the pay of chief executives of most Kenyan medium-sized firms, is seen as a reflection of Standard Bank’s relatively gigantic stature on the African continent.

ADVERTISEMENT

Standard Bank, which operates in over 20 countries in Africa, including Kenya, has total assets worth Sh15.2 trillion or twice the size of Kenya’s economy.

The bank’s directors are paid a single annual fee for their services to the group, the bank and subsidiaries.

Mr Oduor offers extensive experience to the bank with regards to matters finance and serves in three committees namely, audit ethics and risk.

His local knowledge and contacts also come handy for Standard Bank that has emerged as one of the foremost financiers of large-scale power and infrastructure projects.

Mr.Oduor-Otieno was KCB’s Chief Executive Officer from 2007 to 2012.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

10 African countries with the strongest military power in 2024

10 African countries with the strongest military power in 2024

ADVERTISEMENT