How much Kenya Power CEO, chairperson and board members earn

Kenya Power’s top leadership saw their total compensation package climb to Sh58.87 million for the 2024/2025 financial year, driven by a significant hike in annual director fees and a salary boost for the utility’s chief executive.

The utility company’s latest annual report reveals that the total payout to its Board of Directors rose by approximately 13.3% from Sh 51.97 million in the previous year. 

This increase comes on the back of a newly approved government policy and a return to profitability for the electricity distributor.

The Managing Director and CEO, Dr. Eng. Joseph Siror, remains the highest-paid individual at the firm. 

His total remuneration for the year ended June 30, 2025, rose to Sh24.14 million, up from Sh23.26 million in 2024.

The increase was primarily due to a bump in his basic salary/honoraria, which rose from Sh13.49 million to Sh17.37 million. 

Notably, his expense allowances decreased from Sh9.77 million to S 6.77 million during the same period. 

Dr. Siror, who took the helm in May 2023, operates under a negotiated employment contract with performance targets set by the Board.

A major shift in the report is the near-doubling of the annual fee for Non-Executive Directors. Following approval by the National Treasury, the annual fee was increased from Sh 600,000 to Sh1,000,000 per director.

This policy change, guided by the State Corporations Advisory Committee (SCAC), significantly impacted the total board costs. 

The Chairperson, Joy Brenda Masinde, saw her total package increase from Sh5.04 million to Sh5.81 million, inclusive of a monthly honorarium of Sh 80,000 and a company-provided car.

The report also reports that Kenya Power does not offer share options or long-term incentive plans to its directors. 

Remuneration is strictly governed by government limits for state corporations. Beyond the annual fees, directors are entitled to:

• Sitting Allowance: Sh20,000 per meeting.

• Lunch Allowance: Sh2,000.

• Accommodation: Sh18,200 for duties outside Nairobi.

• Mileage: Reimbursed at Automobile Association of Kenya (AAK) rates.

The rise in leadership compensation coincides with a period of financial recovery for the utility. Kenya Power recently reported a pre-tax profit of Sh 35.4 billion for the same financial year, a sharp turnaround from previous years. 

This performance has allowed the company to resume dividend payments to shareholders, with a final dividend of Sh 0.80 per share recommended for the year.

While the increased board costs may draw public scrutiny, the company maintains that these rates are set within the legal framework for state-owned entities to attract and retain the expertise needed to manage the nation's power grid.