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Safaricom boss Bob Collymore earns Sh9 million a month

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Bob CollymoreSafaricom CEO Bob Collymore’s annual $1.068 million income makes him possibly the highest paid chief of a mobile services provider in Kenya.

In an asset declaration form, 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.

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His annual income translates to a monthly salary of Sh9 million.

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).

He also has liquid cash amounting to more than Sh100 million at local and foreign banks.

Collymore, who declared his wealth on Tuesday ahead of World Anti-Corruption Day, is generally worth about $3.8 million (Sh387 million), including his salary for the last 12 months.

During the launch of the Anti-corruption conference on Tuesday, the CEO and board member of the United Nations Global Compact noted that corruption is a major obstacle to sustainable economic, political and social development.

He heads Safaricom which has been ranked Kenya’s largest taxpayer.

It was reported in October that Safaricom dominates the Kenyan mobile market, sweeping up more than 90 per cent of revenues in areas such as voice calls and text messaging.

Rivals like Bharti Airtel and some officials have complained that Safaricom’s dominance stifles competition.

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, according to the data obtained from the Communications Authority.

In text or short messaging services, Safaricom had more than a 90-per cent share of total market revenues from that segment, the regulator said.

– the-star.co.ke

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