Gachagua accuses Ruto of State capture, using presidency to become 'dollar billionaire'

During a press address on Tuesday, Gachagua claimed that President Ruto's net worth, since taking office in 2022, has significantly shot up through what he termed as seeking sole control of key State assets.

The former Deputy President believes that President Ruto has created a one-stop shop for government institutions where he has been on a looting spree at the expense of crumbling the nation and its citizens.

"Over the last 4 years William Ruto has captured the state. He has focused on centralising control of independent constitutional commissions, State entities, public sector procurement and sale of strategic national assets. All these measures are aimed at achieving the objective of enriching himself at the expense of 55 million Kenyans," he said.

"He has achieved the milestone of being certified as a US Dollar billionaire in a four-year record courtesy of looting Kenyan public coffers."

The DCP boss also fingered President Ruto for creating an environment for corruption to thrive, claiming that millions are lost from public coffers every day.

He opined that his former boss has reneged on the ambitious promises he made to Kenyans and has only achieved a loathsome scorecard marred with graft and impunity.

"This regime on a borrowing spree borrows an average of Ksh.3.5 billion daily and steals Ksh.3 billion daily. This government steals an average of Ksh.125 million per hour, and Ksh.2 million from every minute from Kenyans," he claimed.

"They promised to build 250,000 houses every year however, four years later, Mr Ruto has fashioned this into a conduit to steal public land and be the sole supplier of construction materials."

He reckoned that President Ruto has advanced his assets, among them the Sidian Bank, which he claimed has recorded significant asset growth allegedly accrued from deposits made by State institutions and the Nairobi County Government.

"Sidian is valued at Ksh.95 billion, comprising Ksh.74 billion in customer deposit and a reported Ksh.1.7 billion net profit in the year ending 2025. Notice the sudden change in fortune since it had Ksh.42 billion in assets in 2022, and Ksh.30 billion in customer deposit. Since William Ruto bought it, you can see the transformation," Gachagua claimed.

Gachagua faulted President Ruto for creating failed government development programmes like the Hustler Fund, Affordable Housing and the Social Health Authority (SHA).

He added that his administration has failed key sectors like education, health and security, noting that his leadership has gone rogue and rocked by incompetence.

Gachagua warned President Ruto that his track record will be put under heavy scrutiny in the run up to the 2027 General Election, urging him to seek re-election based on results and not providing another set of ambitious promises.