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How NCBA boss Gachora earned Ksh.147.7 million compensation package in 2022

Kenyan banker John Gachora, the Group Managing Director and CEO of NCBA received a total compensation of Ksh.147.73 million ($1 million) from the lender in 2022.

The Ksh.143.73 million reward is up by 87 percent compared to the year 2021 when he received Ksh.78.7 million ($534,000).

Gachora has overseen the stellar performance of NCBA Group since his appointment in 2019 when the 2022 after-tax profit hit a record Ksh.13.78 billion ($93.4 million) from Ksh.10.22 billion ($69.3 million) in 2021.

The Compensation Package

His 2022 package comprises a base salary of Ksh89.63 million ($608,374) and a performance-based short-term incentive of Ksh40 million ($271,450).

This is derived from the NCBA’s stellar performance in its 2022 full-year financial report.

Gachora owns a minority 0.14 percent stake in NCBA, which translates to a total of 2,364,255 ordinary shares, currently valued at nearly Ksh88.3 million ($600,000).

2022 Performance

The business showed sustained resilience riding on the economic rebound post the COVID-19 pandemic. There was non-funded income and net interest income from the growth on customer numbers and the transactions during the year.

Profit before tax increased by Ksh.7.5 billion to Ksh.22.5 billion from Ksh.15 billion in 2021. The growth was due to increased operating income by 27 percent (KSH.12.6 billion) principally driven by growth in business.

The consolidated financial statements include the results of the entities owned by NCBA Group. The Group and its affiliates operate in Kenya, Tanzania, Uganda, Rwanda, Cote d’Ivoire and Ghana.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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