Mutua grilled over source of Ksh.420M wealth, value of A&L hotel

According to Mutua, he acquired the wealth from businesses and the money he acquired through employment. 

“My financial net worth is approximately Ksh. 420 M. I have hotels, apartments and a few businesses here and there, nothing much,” Mutua told the committee headed by Speaker Moses Wetangula. 

However, Kikuyu Mp and National Assembly Majority Leader Kimani Ichung’wah questioned Mutau’s wealth declaration, seeking to know his worth, source of income and his financial worth before he became Machakos Governor. 

In his response, Mutua said he was worth Ksh.200 million before becoming Governor, and is also a shareholder in some companies. 

“Before I became Governor my worth was close to over Ksh.200 million. By that time I had already invested and the investments have grown. What I presented were assets in terms of land that I had acquired from money that I got when I worked in the Middle East, businesses that I was able to start,” Mutua said. 

“In the forms I had also listed a few of the companies that I am a shareholder. That shows my source of income. Within the next 10 years I hope to have double my income through the businesses that are there thriving,” added the Foreign Affairs CS nominee. 

Further casting doubt in Mutua’s wealth declaration, Suna East MP Junet Mohamed asked about the value of A&L hotel - a property in Machakos County that is owned by the former governor.. 

“This hotel in Machakos (A&L) is it yours? If you own that hotel alone and you are saying you are worth Ksh.420M only? With the hotel you cannot be worth Ksh.420M only, you cannot, I have refused,” Junet said. 

In his defense, Mutua said that the hotel was undervalued in his declaration because it is still under a huge loan.

“When you own something that is under huge credit, it is very hard to say that it is yours unless you have cleared the credit. That is why the value of the hotel is much less than I would like it to be. Hopefully in 10 years’ time when I own it 100% then my value will rise,” he said.