Ten Nairobi Securities Exchange-listed firms cut their executive bonuses by Sh284 million last year in the wake of reduced profitability that was largely caused by the economic fallout from the Covid-19 pandemic.
KCB #ticker:KCB, Absa Bank Kenya #ticker:ABSA, Britam #ticker:BRIT, NCBA #ticker:NCBA and Bamburi Cement #ticker:BAMBare among the firms that either suspended or reduced executive bonuses as part of cost-cutting measures that also saw companies lay off hundreds of rank-and-file workers.
