Mudavadi: My Net Worth is Sh4 Billion

Prime Cabinet Secretary nominee Musalia Mudavadi has revealed he is worth approximately Sh4 billion, including properties and shares in various companies.

Mudavadi, a former Vice President and Cabinet minister, made the disclosure on Monday when he appeared before the National Assembly Appointments Committee for vetting following his nomination to Cabinet by President Ruto.

"If I take my investments and shares in some companies and also the properties that I own, I would put my net worth at about Sh4 billion," Mudavadi said. “This income emanates from dividends, rental income, interest and other expenses that come from the farm,” he added.

Mudavadi, one of President Ruto's 22 cabinet nominees, told the 15-member committee that he was never involved in the Goldenberg scandal, stating that he was the one who dismantled cartels behind the grand saga.

“I was appointed the Minister of Finance when the Goldberg saga was coming to its full-blown situation. This was really a scheme where the intention of government went sour and was misused, causing the country a lot of damage and expenses,” Mudavadi said.

He pointed out that a judicial commission of inquiry conducted during President Kibaki’s administration gave him a clean bill of health on the matter.

“I took up the role of dismantling the network of Goldenberg cartels. There was so many issues to this and subsequently there was judicial commission of inquiry which was conducted for a two-year period and the report clearly exonerates me for being part of the scandal.”

He similarly denied any involvement in the Sh283 million cemetery scandal when he served as the Deputy Prime Minister and Minister for Local Government, saying that the culprits who took part have since been charged.

“Those who were culpable were tried and convicted. I was not part of them. It is important that these issues come to rest as the details come out,” he stated.