Nairobi, July 11 -- Senior Safaricom managers were awarded 20.1 million shares with a current market value of Sh707.5 million for free in the year ended March 2026 as compensation for their past performance.

The employees had been awarded 15.4 million shares the year before, with the Nairobi Securities Exchange-listed firm spending billions of shillings over the years to keep the stock compensation scheme running.

Safaricom's chief executive Peter Ndegwa and chief finance officer Dilip Pal are among the beneficiaries of the stock awards.

Mr Ndegwa's ownership in the telco rose to 12.09 million shares-now worth Sh425.8 million-in the review period according to disclosures in the company's latest annual report.

He held 8.74 million shar...