Kindiki reveals why his net worth soared by Sh150 million in last 21 months
By Lucy Mumbi |
Kindiki said his net worth has increased from Sh544 million to Sh694 million in the last 21 months.
Kithure Kindiki, the Cabinet nominee for the Ministry of Interior and National Administration position, has amassed wealth worth Sh150 million in just 21 months.
Speaking on Thursday while appearing before the National Assembly Committee on Appointments, during the vetting process, Kindiki said his net worth has increased from Sh544 million to Sh694 million.
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Kindiki claimed that the continued profitability of his law firm, which he maintained prior to his Cabinet Secretary position, has contributed to the surge in his wealth.
He claimed that although he does not practice the duties in the law firm, “other people” are running the business, bringing in income.
“Before I was appointed, my wealth was Sh544 million. I said at that time, and I still do now, that I have run a business in which I do not participate today. I do not practice law, but my law firm is alive and is working. Much of that revenue has actually come through the revenue of my law firm, which is still active but being managed by other people,” he said.
He insisted that he has only used his salary to pay bills during his tenure, running his other errands with fees from his legal firm that his clients have not paid.
“I think all of my salary has been spent paying bills. Therefore, a boost in my net worth is because of the legal fees, some of which were still pending by the time I was appointed. In fact, two months after I was appointed, one of the clients paid significant amounts of legal fees that had been pending. Other than that, I do some small businesses and so forth and so on,” he said.
“None of my money has come from the public except for salaries and the allowances that are mentored too. I have not benefited from any improper business; I have not done any business with the government; I have not applied for any tender by myself, by proxy, by a relative or by anybody.”
"I have two homes one in Nairobi and one in Tharaka Nithi worth 190 million. Then I have a building for about Sh235 million. I also have savings in saccos and banks. I also do legal practice so I have a bit of revenue that I have generated through my law firm and that is it. I also have vehicles of about Sh17 million."
Previously, during his initial vetting, Kindiki reported a net worth of Sh544 million, comprised of Sh165 million in land and buildings, Sh50 million in bank deposits, and various investments in shares and savings cooperatives (saccos).
Kindiki told the MPs then that his net worth consisted of land and buildings worth around Sh165 million, bank deposits of about Sh50 million, investments in shares, and deposits in five different saccos.
He added that, aside from the investments, he was also an advocate for the Kenya High Court.
“I'm also a businessperson running a number of SMEs and a consultant for local and international organisations,” he said.
Kindiki was the first to appear before the National Assembly Committee on vetting on the first day of the week-long exercise.
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