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CEO James Mworia says just like the Sh1billion paid last year, the company will still pay in a span of three years/JAMES MUGO

Kenya

Centum to pay Sh550mn bonus after last year’s Sh1bn

CEO James Mworia says just like the Sh1billion paid last year, the company will still pay in a span of three years/JAMES MUGO

CEO James Mworia says just like the Sh1billion paid last year, the company will still pay in a span of three years/KEVIN GITAU

NAIROBI, Kenya, Jun 8 – Centum Investment Company will this year issue a bonus of Sh550 million for the full year 2016, which is close to half of that issued in 2015.

CEO James Mworia says just like the Sh1billion paid last year, the company will still pay in a span of three years.

“Last year, the bonus approved was Sh1bilion and this is slightly over Sh550million. The payout is dependent on the continued performance of the company and the relevant staff remaining within the group,” Mworia told journalists on Wednesday on the sidelines of the company’s results release.

He says apart from managing future performance, the bonus payment system is used as a retainer tool for the employees.

The company which has at least 90 employees which will see each employee take home at least Sh5 million.

He says despite the bonus being slightly half of 2015, the 2016 payout is higher than Sh431.3 million issued in 2014.

Last year the company hit the headlines after the announcement of the Sh1 billion bonus which was the highest ever in Kenya.

At the moment, the company’s total assets in 2016 rose to Sh52 billion from Sh32 billion in 2015.

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