James Mworia, CEO of Centum Investment Group, is known for being one of the highest-paid CEOs in Kenya. However, he challenges this perception by emphasizing his focus on creating value for the company and its shareholders.
In the year ended March 31, 2017, it was reported that Mworia earned Ksh375.6 million, making him the highest-paid CEO in the country. However, in the following year, his salary dropped to Ksh177.6 million, and then further to Ksh45 million in the year ended March 2020 due to missed bonus earnings for not meeting performance targets.
Unfortunately, the company also experienced a decline in profits, with a Ksh4.6 billion profit in 2020 followed by a historic loss of Ksh1.37 billion in 2021. This resulted in Mworia missing out on bonuses for the last two years, significantly decreasing his overall income.
As of September 30, 2021, Centum had total assets valued at Ksh47.3 billion and a market capitalization of Ksh11.9 billion. Real estate and Private Equity comprise 81 percent of the company’s portfolio, with marketable securities making up the remaining 19 percent.
Due to these losses, Mworia’s position as the highest-paid CEO in Kenya has been taken over by Gideon Muriuki of Co-op Bank, followed by Joshua Oigara of KCB and James Mwangi of Equity.