Kenya Commercial Bank CEO Joshua Oigara, a former teacher, is the latest Chief to declare his wealth. He revealed on Thursday that his monthly salary is Ksh4.9 million and his networth is Ksh220 million.
This comes barely a day after Safaricom CEO Bob Collymore made headlines after he announced his monthly salary of Ksh9.1 million and a net worth of Ksh277 million. Through a statement to newsrooms, Mr Oigara revealed that his wealth is made up of Ksh350 million assets that include land and buildings and loans worth Ksh130 million. Other assets that were listed in the press statement are shares, motor vehicles and cash bank balances.
See also: With Ksh400m, Eugene Wamalwa is richer than Bob Collymore
“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,” he said.
The CEO also revealed that the journey to his million glory started off 18 years ago as a school teacher earning Ksh5,000 per month. “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 Sh5, 000 a month,” said Mr Oigara in a statement.
Pressure continues to pile on the private sector and public service heads to declare their wealth to enhance transparency and ease the fight against corruption, a national disaster in Kenya today. “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.
With such a humble beginning, Mr Oigara justified his wealth saying that all did not come on a silver platter. “I have grown to be the CEO of East Africa’s leading bank with annual revenue of Ksh60 billion. Over time, that has allowed me to acquire what I have,” he added.
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