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Economy

I'm worth Sh220m, says KCB chief executive Joshua Oigara



KCB chief executive Joshua Oigara. PHOTO | FILE
KCB chief executive Joshua Oigara. PHOTO | FILE 

The KCB Group chief executive Joshua Oigara Thursday said he is worth Sh220m, a day after Safaricom’s Bob Collymore declared his wealth.

Mr Oigara in a statement to the media said his net worth of Sh220m is made up of total assets of Sh350 million and loan obligations of Sh130 million. His monthly salary and allowances total Sh4.9 million.

The CEO of the biggest bank by assets in East Africa said his wealth is in the form of land, buildings, motor vehicle, cash bank balances and shares.

“My public declaration is driven by the need for us as private sector players to initiate greater transparency. Kenya is bleeding from corruption mainly driven by secrecy in organizational operations. Corruption takes away equal opportunity and hurts growth by consuming funds which could otherwise have gone into social and economic projects like health and education” said Mr Oigara.

“I have had to work hard for the past 18 years in different companies and capacities. I started off as a teacher in my rural village, earning Ksh5,000 a month. I have grown to be the CEO of East Africa’s leading bank with annual revenue of Sh60 billion. Over time, that has allowed me to acquire what I have."

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