NAIROBI, KENYA: Real estate is still favourite investment alternative for President Uhuru Kenyatta’s nominees to the cabinet.
In a parliamentary report disclosing net worth of each cabinet secretary, it emerged that only CS nominee of foreign affairs and international trade Monica Juma did not list real estate as the source of her millions.
Monica Juma’s net worth is estimated at Sh50 million, money derived from salary and income from farming.
According to the report, Simon Kiprono Chelugui, the CS nominee for Water and Sanitation is probably the richest cabinet nominee at Sh796 million while Rashid Echesa (Sports nominee) comes last with a net worth estimated at Sh40 million.
Below is a breakdown of the nominee’s net worth and source of income
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Farida Chepchumba Karoney, CS nominee Lands and Physical Planning
She informed the Committee that her net worth is approximately Sh200 million comprising investments in shares, farming and real estate.
Peter Munya East African Community and northern corridor development
Net worth
The nominee’s estimated his total net worth at Sh 264,100,000.00 comprising of investments in reale state, agriculture and land.
Keriako Tobiko Cabinet Secretary nominee ministry of environment.
Net worth
The nominee informed the Committee that his net worth is approximately Sh360 million comprising of investment in real estate, agriculture and livestock.
Simon Kiprono Chelugui- Water and Sanitation
Net worth.
The nominee informed the Committee, in his response to the questionnaire, that his net worth is approximately Sh796 million comprising investments in real estate, movable assets and farming.
Ukur Yatani- Labour and Social Protection
Net worth
Yatani informed the Committee that his net worth amounts to approximately Sh295 million comprising investments in transport, movable assets, real estate and livestock.
RASHIDECHESAMOHAMED–SPORTS AND HERITAGE
Net-worth
Echesa informed the Committee that he has a net worth of Sh40 million comprising of investments in movable assets, real estate and construction.
JOHN MUNYES –PETROLEUM AND MINING
Net worth The nominee stated that his net worth is Sh50 million and includes investments in real estate, transport sector, salary and allowances.
MARGARET KOBIA- PUBLIC SERVICE, YOUTH AND GENDER AFFAIRS
Net worth
She informed the Committee that her net worth is approximately Sh165 million comprising expected future benefits from service gratuity and investments in real estate.
Real estate has proved to be among the most resilient sectors of the economy. It achieved notable milestones in 2017 amid lows of the turbulent of the time. This in a year, where, almost all sectors of the economy were weakened by the worries of electioneering period.
According to the Economic Survey Report which was released by Kenya National Bureau of Statistics in April 2017; the real estate sector had contributing 8.8 per cent of Kenya’s GDP in the year 2016.
