Kenya's CEOs make our politician pay look like a pittance.

[RV Pundit]

• Tweet

http://www.businessdailyafrica.com/Corporate-News/Centum-s-Mworia-tops-list-of-Kenya-s-best-paid-executives/539550-3386730-kehj0y/index.html

[Empedocles]

http://www.businessdailyafrica.com/Corporate-News/Centum-s-Mworia-tops-list-of-Kenya-s-best-paid-executives/539550-3386730-kehj0y/index.html

Our politicians top up their "meager" salaries with non repayable interest free "loans", courtesy of Wanainchi Bank LLC.

I think it was in 2009 when the KRA stopped the tax payer award for individuals, which Kibaki had proudly launched. At the time, Michael Joseph of Safcon had won it a few years running.

The funny thing is, he was nowhere near as rich as very many of our esteemed politicians. 

After many many bothersome questions, the category was very quietly and hurriedly dropped.

[RV Pundit]

Yeah politician top it up with tax payers money

[Georgesoros]

Kenya has adopted the Middle Eastern model, where 1% own everything and toss left overs to the rest.
India
Pakistan
Saudis
Kuwait
etc

[RVtitem]

This is the magic of "free capitalism"!

How much do the lower level employees earn in these blue chip companies?

[Nefertiti]

The bonuses are dished out to all staff based on company and individual performance. I see no problem with private companies setting pay in tandem with profits; they have the right to determine their manpower strategy.

This is the magic of "free capitalism"!

How much do the lower level employees earn in these blue chip companies?

[Georgesoros]

I agree with you if you want to create a a society of haves and have nots. With one class begging to survive while the other lives in gluttony. Sort of tote kind republicans espouse.

The bonuses are dished out to all staff based on company and individual performance. I see no problem with private companies setting pay in tandem with profits; they have the right to determine their manpower strategy.

This is the magic of "free capitalism"!

How much do the lower level employees earn in these blue chip companies?

[Kadudu]

The politicians do not only use tax loop holes but mainly top up their meager salaries with 10% deals in almost all goverment tenders. A good example is Anne Waiguru who after not even two years in govt buys a house for 120M Ksh "on mortage". Now you go take a mortage of let us say 100M Ksh from a bank. I can assure you you would have to pay 1M per month to service that mortage for the next 20 years. of course she made her deals with the NYS loot to buy that house. No way she could have done that with her normal salary.
Kenya's CEOs are paupers compared to these politicians that control the country's purse. Slowly the CEOs have woken up and good exaple are the former Uchumi's CEO Ciano. What the man's wife earned as chief supplier of vegetables to Uchumi's supermarkets, must have made Ciano's salary look like pocket money.

Our politicians top up their "meager" salaries with non repayable interest free "loans", courtesy of Wanainchi Bank LLC.

I think it was in 2009 when the KRA stopped the tax payer award for individuals, which Kibaki had proudly launched. At the time, Michael Joseph of Safcon had won it a few years running.

The funny thing is, he was nowhere near as rich as very many of our esteemed politicians. 

After many many bothersome questions, the category was very quietly and hurriedly dropped.

[Empedocles]

I know the figures given in the linked article are for publicly listed companies, which have to declare the salaries of their top honchos.

But I still wonder what, for example, the top dudes of Sportpesa (a private entity) are taking home each month....and how much tax they don't pay.

[Empedocles]

The politicians do not only use tax loop holes but mainly top up their meager salaries with 10% deals in almost all goverment tenders. A good example is Anne Waiguru who after not even two years in govt buys a house for 120M Ksh "on mortage". Now you go take a mortage of let us say 100M Ksh from a bank. I can assure you you would have to pay 1M per month to service that mortage for the next 20 years. of course she made her deals with the NYS loot to buy that house. No way she could have done that with her normal salary.
Kenya's CEOs are paupers compared to these politicians that control the country's purse. Slowly the CEOs have woken up and good exaple are the former Uchumi's CEO Ciano. What the man's wife earned as chief supplier of vegetables to Uchumi's supermarkets, must have made Ciano's salary look like pocket money.

At the time Waiguru was getting her "mortgage", she was probably supposed to be paying around 18-20% per year, which works out to at least 1.8m - 2m per month for a 20 year mortgage.

Of course, it's an open secret she never got a mortgage.

[Kadudu]

You mean open secret?

Of course, it's an open secret she never got a mortgage.

[MOON Ki]

Kenya's CEOs are paupers compared to these politicians that control the country's purse.

I think my pre-retirement plans should include a brief stint in Kenyan politics---even as a "lowly" MCA.    Check  out these new MCA digs:



MCAs' changing fortunes: How once tiny post has become golden thanks to devolution
Read more at: http://www.standardmedia.co.ke/article/2000212045/mcas-changing-fortunes-how-once-tiny-post-has-become-golden-thanks-to-devolution

Above that level, His Excellency (Jomo Jnr.) recently summed up the national approach quite neatly, in telling those not in government just how it is relative to those who are in:  "Endeleeni kumeza mate, lakini nyama tutakula"

[Georgesoros]

If only half of the taxes went to projects instead of politicians pockets Kenya will be a middle class in 10yrs. At this rate stealing and self indulgence, it will take 100+yrs.

[Kim Jong-Un's Pajama Pants]

If only half of the taxes went to projects instead of politicians pockets Kenya will be a middle class in 10yrs. At this rate stealing and self indulgence, it will take 100+yrs.

There are Kenyans who will tell you that corruption has no effect on development.  Kenya loses at least a third of it's budget annually to corruption.

[RV Pundit]

Don't throw figures around hivyo hivyo bwana. The good thing with this report is that young folks now know you don't have to engage in graft to make billions..you can aim to become CEO instead.

As I previously said, corruption naturally reduces as economy grow. It just like having many kids. Women will have less kids when they are assured of long lifetime of them and their kids.

When economic opportunities to escape poverty are limitied; folks are going to engage in crime -from robbery to corruption.

If only half of the taxes went to projects instead of politicians pockets Kenya will be a middle class in 10yrs. At this rate stealing and self indulgence, it will take 100+yrs.