Dilip Pal: Profile of Safaricom Second Highest Paid Director after CEO, Earned Ksh113.8M in 2024

Dilip Pal is the Chief Financial Officer (CFO) at Safaricom PLC from November 2020. The mobile network operator and provider is East and Central Africa’s most profitable company, with a market capitalization of US$11.7 billion.

In his role as CFO, Dilip reports to the CEO and is responsible for the overall financial planning, management, and oversight of the organization at the telco giant.

Education

The CFO holds a Master’s in Commerce from Calcutta University and a Bachelor of Commerce from Goenka College of Commerce. He is also a Chartered Accountant from the Institute of Chartered Accountants of India and a Cost Accountant from the Institute of Cost and Works Accountants of India.

Career

Before joining Safaricom, he was the CFO with DTAC Thailand, part of the Telenor Group, from 2017 to 2020. Prior to this, he worked in the same capacity at Grameenphone Bangladesh for three years. Earlier in his career, Dilip held various finance roles in Vodafone India, rising to the role of EVP Finance. He has also held senior finance roles in Hutchinson Essar, Hindustan Coca Cola Beverages, and Tata Tinplate.

As CFO of Safaricom PLC, he has been involved in several key strategies. He played a crucial role in signing off on the $850 million investment for a telecom license that allowed Safaricom to enter Ethiopia.

He is responsible for the overall financial planning, management, and oversight of Safaricom. He aims to enhance productivity through cost leadership, management, and optimization. He also seeks to partner and collaborate with business units for growth, transform finance into an advanced analytics-driven organization, and simplify, digitize, and automate business processes to improve customer experience.

Salary

In 2024, Dilip Pal received a salary of KSh 58.9 million. Additionally, he earned a performance bonus of KSh 35.1 million and non-cash benefits valued at KSh 19.8 million. During the same year, he also accumulated 1,342,105 shares valued at KSh 23.41 million making him one of the most highly paid CFO’S in the industry. He also receives residential accommodation, utility bills payment, and club membership as part of his benefits.