Namwamba declares Sh500mn net worth during vetting for UNEP post
Former Sports Cabinet Secretary Ababu Namwamba has revealed that his net worth has grown by Sh75 million in the last two years
Former Sports Cabinet Secretary Ababu Namwamba has revealed that his net worth has grown by Sh75 million in the last two years.
Ababu who has been nominated as Kenya’s Permanent Representative to the United Nations Environment Programme (UNEP) in Nairobi declared that he is currently worth Sh500 million.
When he appeared during his vetting for the CS position, Ababu had told the Committee of Appointments that his net worth was Sh425 million.
He was appearing before the National Assembly’s Committee of Defence, Intelligence and Foreign Affairs, on Friday for vetting as UNEP Permanent Representative.
This, he said, is made up of his two houses in Nairobi and Busia, business interests, shareholdings and pension.
He stated that the shares are in major companies which include Safaricom, Cooperative Bank and Kenya Power.
“I hold some interest in Safaricom, Coop Bank, and Kenya Power and I have indicated without providing specifics because ordinarily, you would not know the dividends accrued to you in a specific cycle,” he told the committee.
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Others who were set to appear before the committee for grilling are ex-Cabinet Secretaries Andrew Karanja and Margaret Ndung’u.
Ndung’u, the former ICT CS, however, declined the nomination through a letter to the committee citing personal reasons.
Belgut MP Nelson Koech who chairs the committee said it was regrettable that for a second time, a nominee has declined the Ghana job.
“I wish to inform you that I will not appear occasioned by personal and compelling reasons,” she wrote to the Committee through the Clerk of the National Assembly.
“To save precious time of the committee, this letter serves as notice that I will not attend.”
Ababu also told the committee that he was suitable for the position stating that President William Ruto had explained to him the roles before the nomination was made public.
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