Equity CEO James Mwangi Sh278.5m Income Breakdown As He Becomes Top Earner

Equity Group Chief Executive Officer James Mwangi was the highest earning executive in the financial sector having pocketed kes278.5 million for the year ended December 2020.

His earnings according to data from Equity Group’s annual report is as follows:

Gratuity-kes194.5 million

Basic salary-kes56.7 million 

Leave pay-kes13.9 million

Equity recorded a profit after tax of kes20.1 billion for the year ended 2020. A drop of 10 per cent compared to the same period in 2019. 

Also Read: Equity Bank CEO James Mwangi Biography, Age, Education, Career, Family, Philanthropy and Net Worth

Equity Group operates in South Sudan, Tanzania, Rwanda, Uganda and Democratic Republic of Congo.

Releasing the 2020 full year results in March, the CEO stated that the company’s corporate purpose of:  ’Transforming lives, giving dignity and expanding opportunities for wealth creation’ was the  “guiding compass of the organization’s essence on how to navigate through the crisis and the challenging environment. Our results and performance became a human story of resilience and determination to live an ethical human purpose.”

To achieve this, Equity waived Kshs 1.2 billion mobile charges, “to enhance households’ disposable incomes while at the same time sensitizing clients to adopt mobile, digital, and online banking, in compliance with health protocols of reduced mobility, minimized interactions, promoting hygiene, and maintaining social distancing.”