Retired President Kibaki to Earn Sh2.8 Million Per Month Starting July

Retired president Mwai Kibaki is set to earn an average of Sh2.86 million per month in the next financial year, which begins on July 1st, 2020, according to reports. 

Budget documents tabled in parliament by the National Treasury show that Sh34.43 million has been allocated to payment of Kibaki’s pension and perks in the 2020-2021 fiscal year, Business Daily reports.

This means Kibaki, who served as the country’s third president between 2002 and 2013, will pocket more than double of President Kenyatta’s Sh1.44 million monthly salary.

Similarly, Kibaki’s benefits will be higher than what top chief executives of State-owned companies such as KenGen, Kenya-Re, and Kenya Power earn per month.

The monthly pension of retired presidents is set at 80 percent of the current salary paid to the sitting President in addition to other benefits like fuel, house and entertainment allowance.

In 2015, taxpayers' cash amounting to Sh250 million was used to renovate Kibaki’s office block at Nyari Estate in Nairobi. The office block was acquired in 2013 by the government at a cost of Sh250 million. 

An extra Sh500 million was spent on the building of Kibaki’s home on a 100-acre parcel of land in Mweiga, Nyeri County.