Safaricom CEO Bob Collymore’s earns an annual income of $1.068 million making him, possibly the highest paid chief of a mobile services provider in Kenya.
From his asset declaration form, Bob Collymore stated that he earns the Sh108,924,786 a year and has no assets in Kenya, save for his $180,000 (Sh18 million) shares in Safaricom.
The chief executive also has shares worth $871,000 (Sh88.8 million) at Vodafone PLC and a residential house in the UK worth about $530,000 (Sh54 million) and liquid cash amounting to more than Sh100 million at local and foreign banks.
Bob Collymore, declared his wealth on Tuesday ahead of World Anti-Corruption Day. He is worth about $3.8 million (Sh387 million).
At the launch of the Anti-corruption conference on Tuesday, Bob Collymore and board member of the United Nations Global Compact agreed that corruption is a major hurdle to viable economic, political and social development.
Safaricom is Kenya’s largest taxpayer and dominates the Kenyan mobile market, taking up more than 90 per cent of revenues in products such as voice calls and text messaging.
Competitors like Bharti Airtel have complained that Safaricom’s dominance suppresses competition.
According to data obtained from the Communications Authority, Safaricom’s revenues from calls amounted to a 91.63 per cent market share in 2014, while its closest competitor, Airtel, had 8.33 per cent.
Safaricom had more than a 90-per cent share of total market revenues from text or short messaging services.