ICT CS nominee Eliud Owalo reveals Ksh.645 million net worth

Information, Communication and Digital Economy Cabinet Secretary (CS) nominee Eliud Owalo says he has an estimated net worth of Ksh.645 million.

Owalo, who appeared before the National Assembly’s Committee on Appointments on Friday for vetting, said that he accrued the wealth by making land investments, venturing into the hospitality sector as well as planting trees commercially.

"My Nairobi house has got a value of Ksh.120 million, upcountry my residential house is worth Ksh.70 million. I own land upcountry worth Ksh.200 million, four cars worth about Ksh.15 million, and a hotel facility that is not completed," said Owalo.  

"As at now, the hotel is worth Ksh.80 million but based on the bill of quantities on completion it will be worth Ksh.293 million. I have also ventured heavily into commercial tree planting and as at now I estimate that the value proposition of that is Ksh.160 million."

Owalo likewise narrated his life story to the committee in detail to explain his journey prior to the CS nomination.

Born in 1967 in Asembo, Rarieda district, Siaya County, Owalo attended a local school before going to Maseno National School for his O-levels.

He then proceeded to St. Mary's Yala for his A-levels and thereafter enrolled at the Kenyatta University for a B.A. in Economics and Business Studies,

"I also hold an MBA degree from UoN with a specialisation in Human Resource Management. As we speak, I am at the tail end of my PhD program in Strategic Management at the UoN. I am done with course work and I am now progressing into the thesis stage," he said.

Career wise, Owalo - an economist by profession - has served in a number of corporations in the public sector as a strategy expert and HR management consultant.

He said that he has developed at least 50 strategic plans for different local, regional and global organisations during his lifetime.

His areas of expertise touch on micro and macro-economic analysis, strategic planning, organisational restructuring and job evaluation.

"I have had the honour of being the consultant for strategic plan for Ministry of Lands, Environment, Labour (twice), Heritage, Cooperative Development, Provincial Administration and the Ministry of Interior," said Owalo.

"Within parastatals I have been the consultant for the development of strategic plan for Kenya Ports Authority, Kenya Airports Authority, Kenya National Highway Authority (twice; 2013 and 2017), the current strategic plan for the Kenya School of Government, strategic plan for KETRACO, the first strategic plan for the Competition Authority and the first strategic plan for Kenya Trade Network Agency."

Owalo first tossed his hat in the political arena in 2012 when he served as the presidential campaign secretariat and chief campaign manager for Raila Odinga's CORD party.

In the years that followed, Owalo also served as close advisor of Amani National Congress (ANC) party boss Musalia Mudavadi before running for Kibra MP in 2019, albeit unsuccessfully.

"I have been part of Kenya Kwanza presidential campaign by being a member of the presidential campaign steering council and a member of the economic advisory team which came up with the bottom-up mode. I also developed the 48 charters on the basis of which we made commitments to the service of the people," said Owalo, insisting that he is qualified to assume the CS position.