Interior Cabinet Secretary nominee Kithure Kindiki has reported a substantial increase in his net worth, which has risen by Ksh150 million over the past 21 months.
During his appearance before the Committee on Appointments on Thursday, August 1, 2024, Kindiki revealed that his net worth now stands at Ksh694 million, up from Ksh544 million in October 2022.
Kindiki addressed concerns about the source of his wealth, affirming that he has not engaged in any business dealings with the government, nor has he applied for any government tenders personally or through proxies.
Instead, he attributed the increase to revenue generated by his law firm and pending legal fees that were settled recently.
“I have not done any business with the government. My law firm, which continues to operate, has contributed significantly to this increase,” Kindiki stated.
He clarified that he does not practice law actively but his firm remains operational.
Additionally, Kindiki disclosed ownership of two homes in Nairobi and Tharaka Nithi valued at Ksh190 million.
His assets also include land and buildings worth Ksh235 million, vehicles valued at Ksh17 million, and substantial savings in various financial institutions.
Kindiki emphasized that all his salaries and allowances have been utilized for personal expenses and bill payments, with no impact on his reported wealth from government dealings.
The nominee also presented a detailed account of his assets, underscoring his transparency.
“My financial growth has been a result of diligent professional practice and prudent investment,” he asserted.
Kindiki’s financial disclosure included specifics of his properties: his Nairobi residence and Tharaka Nithi home are valued at Ksh120 million and Ksh70 million respectively, reflecting significant real estate investments.
His land holdings, which amount to Ksh235 million, are spread across prime locations in Kenya, underscoring his strategic investment approach.
Kindiki also owns vehicles valued at Ksh17 million, further highlighting his substantial personal assets.
His savings, distributed in various financial institutions, were not quantified in detail but are noted as significant.
Kindiki’s testimony aimed to reassure the Committee on Appointments and the public of his integrity and financial prudence.
He maintained that his wealth accumulation has been legitimate and transparent, devoid of any government contracts or undue influence.
His law firm’s continued success, despite his reduced direct involvement, was presented as evidence of sustained professional excellence and reliable income generation.
Kindiki’s financial disclosure during the committee hearing underscored his commitment to transparency and accountability.
His detailed account of his net worth and the sources of his income aims to dispel any doubts regarding his financial integrity, positioning him as a nominee committed to ethical standards in public service.
Add Comment