Chris Kirubi’s Company To Pay Each Employee At Least KSh1 Million Bonus

It must be a great time to be an employee of investment company Centum, whose largest shareholder is Chris Kirubi, as each individual employed by the firm is set to take home a ‘fat cheque’ in bonuses.
Centum is set to pay out bonuses totaling KSh 1.1 billion to all it’s 90 employees, which means on average, each individual employed in the company will get KSh 11 million.
Practically, the least earning employee will earn less than the KSh 11 million, but they will most likely still get more than a million.
This ideally presents the best bonus payout in Kenya’s corporate history.
It is expected that the top 10 executives at Centum will get on average KSh 34 million each, the company’s newly released annual report indicates.
The bonus payment is on the basis of good performance of the overall company according to Centum CEO James Mworia.
The employees had a target to increase the company’s net assets from KSh 26.4 billion, but they exceeded the expectations, reaching KSh 32 billion during the review period.
Now, the employees only need to make sure they maintain this value within the year otherwise their handsome bonus payment will be deferred until the year they achieve that same net asset value.
Also, if an employee exits the company before payout, they won’t be paid the bonus.
Centum is a public investment company listed on the Nairobi and Uganda stock exchanges.
It’s notable investments in the recent past include Two Rivers Shopping Mall in Ruaka set to be the largest mall in East and Central Africa, Coal Power Project in Lamu, and acquisition of K-rep Bank amongst others.

SOURCE: Business daily, Tuko.co.ke