‘I’m worth Ksh.120M’, Mining CS nominee Salim Mvurya says

Mining, Blue Economy and Maritime Affairs Cabinet Secretary (CS) nominee Salim Mvurya has revealed that his net worth amounts to Ksh.120 million.

The former Kwale Governor made the declaration on Saturday after appearing before the National Assembly's Committee on Appointment.

He said that the aforementioned wealth emanates from property acquisition including ownership of houses and cars, investment in lands, and the current amount as reflected by his bank account.

“My financial net worth is Ksh.120 million, in land, houses, bank accounts and vehicles,” he said.

Kikuyu MP Kimani Ichung’wa sought to find out how with his over Ksh. 1 million salary when he was Kwale governor, his net worth remains conservative.

"You have indicated that you are worth Ksh. 120 million...You have also indicated that your source of income is your salary as governor of about Ksh. 1.361 million in gross terms. Assuming in gross terms if you were to take a tax of 35 percent, in 10 years you would have earned about Ksh. 88.6 million," the MP argued.

“Did you have other loans or liabilities by the time you are governor? Did you have access to facilities such as mortgage facilities? Have you taken up as governor any mortgage facility or car loans that you are servicing by the time you were governor?

Mvurya in his response said that he had incurred loans during his tenure which he first focused on clearing.

“In my term as governor I had loans which I paid and concluded with various banks,” he said.