Safaricom’s CEO Peter Ndegwa pockets $2.3 million salary in 2025

Kenyan business executive Peter Ndegwa, CEO of Safaricom Plc, East Africa’s leading telecommunications firm and the architect behind the mobile payment platform M-PESA, earned Ksh294.2 million ($2.28 million) in total compensation for the 2025 fiscal year.

This marks a 16.61% increase from last year’s earnings of Ksh252.3 million ($1.95 million), despite a 4.63% drop in the value of share-based awards. Safaricom reported a total comprehensive loss of Ksh108.03 billion ($836.8 million) in 2025, compared with a total comprehensive income of Ksh68.68 billion ($531.88 million) in 2021.

Breakdown of Peter Ndegwa’s compensation

Ndegwa’s total compensation for Safaricom’s 2025 fiscal year includes a base salary of Ksh98.7 million ($764,230) and a performance-based short-term incentive of Ksh33.5 million ($259,389).

A noteworthy component of his compensation is the long-term incentive award of Ksh162 million ($1.25 million), acknowledging his unwavering commitment to Safaricom and his extensive experience in the telecommunications industry.

Financial stability under Peter Ndegwa

Since Peter Ndegwa became CEO in April 2020, Safaricom has achieved financial stability and strategic growth. Total assets increased by 123.45%, rising from Ksh230.6 billion ($2.14 billion) in 2021 to Ksh515.28 billion ($3.99 billion), indicating expansion in the subsequent years.

Revenues also grew, rising from Ksh264.03 billion ($2.04 billion) in 2021 to Ksh388.69 billion ($3.01 billion) in 2025, a 47.22% increase. However, profit fell by 33.37%, decreasing from Ksh68.68 billion ($636.77 million) in 2021 to Ksh45.76 billion ($354.3 million) in the same period in 2025.

Ndegwa’s stake in Safaricom

Ndegwa holds a minority stake in Safaricom, owning about 0.022%, or 8,740,477 shares currently worth Ksh260.9 million ($2.02 million). His leadership is crucial as the company navigates the evolving telecommunications landscape, demonstrating resilience and strategic foresight that position Safaricom for future success.

As Ndegwa and his team aim to seize emerging opportunities in the East African market, his experience and commitment to innovation will be key to advancing Safaricom’s mission of enhancing digital access and financial inclusion in the region.