Safaricom CEO Peter Ndegwa has elevated his stake within the telecom big by 40% to eight.7 million shares within the yr ended March 2025, in line with the corporate’s newest disclosures.
Ndegwa, appointed Safaricom CEO in April 2020, has considerably elevated his stake within the firm over the previous two years, from 895,000 shares in 2021, a holding that had remained unchanged since he first acquired it.
On the Monday closing worth of $0.2 (KES 25.70) per share, Ndegwa’s 8.7 million‑share stake in Safaricom is valued at roughly $1.73 million (KES 223.59 million), highlighting the rising worth of his stake as he deepens his funding within the firm.
The rise within the worth of Ndegwa’s stake suggests he bought further shares and benefited from Safaricom’s Worker Efficiency Share Award Plan (EPSAP), which was awarded as a part of his performance-based compensation.
Within the yr ended March 2025, he obtained $349,955 (KES 45 million) value of shares as a part of his complete pay package deal of $2.2 million (KES 294.2 million), cementing his place because the highest-paid chief government amongst corporations listed on the Nairobi Securities Alternate (NSE).
Below Safaricom’s worker efficiency share award plan, the corporate purchases its shares from the open market and allocates them for gratis to chose workers. These shares vest after three years, after which workers can promote or retain them of their accounts.
Listed corporations and startups broadly use share-based compensation as an additional incentive to align worker pursuits with these of shareholders and the corporate. It additionally helps corporations retain high-performing workers.
Safaricom CFO Dilip Pal additionally elevated his shareholding by 65% to 2.2 million shares, up from 1.3 million the earlier yr. His holding is valued at roughly $436,787 (KES 56.54 million).
The surge in government rewards, together with EPSAP, follows a restoration in Safaricom’s earnings. For the yr ending March 2025, the telco reported an 11% enhance in web revenue to KES 69.8 billion ($540 million), pushed by robust progress in cell cash and knowledge providers, in addition to diminished losses in Ethiopia.
The efficiency indicators a return to progress after two years of flat earnings, weighed down by the excessive prices of coming into the Ethiopian market. Nonetheless, Safaricom is betting on East Africa’s most populous nation, which sees long-term potential regardless of a sluggish begin.
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