'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 before Parliamentary vetting Committee on October 22, 2022. PHOTO|COURTESY
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.
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