'My net worth is Ksh. 475M including apartment in South Africa,' Secretary to Cabinet nominee Mercy Wanjau says

Secretary to the Cabinet nominee Mercy Wanjau has declared her net worth to be Ksh. 475.4 million.

Speaking on Saturday during her vetting by the National Assembly's Committee on Appointments, Wanjau said that the close to half a billion wealth was accumulated mainly from property ownership and investments in agriculture.

The former Director of Legal Services at the Communications Authority of Kenya (CA) says the property includes land, buildings, vehicles as well as shares, stocks and deposits amounting to Ksh.89 million.

“My financial net worth as disclosed is Ksh.475.4 million and it is comprised as follows; land and buildings at about Ksh. 380.4 million, shares, stocks and deposits at about Ksh. 89 million, agriculture in the form of large commercial farming of trees at about Ksh.6 million and four motor vehicles, enjoined property valued at about Ksh.3 to 4 million, they are fairly old,” she explained.

Ms Wanjau explained that her properties which amount to about 80 per cent of her wealth are distributed in Nairobi, Laikipia and Kilifi counties and another residential apartment in Johannesburg, South Africa.

“Regarding the land and buildings, I own these properties in the community of properties, because am married, they are in Nairobi (some apartments and the home that we leave in), in Nanyuki, Malindi. We also have an apartment in South Africa, Johannesburg,” she noted.

The MPs raised concerns following Lawyer Wanjau’s wealth declaration after she pointed out that she did not include her liabilities in the summation.

She said: “On account of land and buildings, we do hold quite an amount of significant debt, in the region of about Ksh.70 million but this has been paid overtime…So when you factor that in you will be able to see how that adjustment comes down.”

The committee however dismissed her claims, with Suna East MP Junet Mohammed advising the lawyer that she should have included all her liabilities in the wealth declaration report.

“I thought the matter should be easier than this…what she should have provided is what she owns, its market value, minus the liabilities, and that is what is called net worth,” Junet said.