Kindiki Explains Why His Net Worth Increased by 150M KSH in 21 Months

Kithure Kindiki, the Cabinet nominee for the Ministry of Interior and National Administration, has experienced a significant increase in his personal wealth over a remarkably short period. 

During his recent appearance before the National Assembly Committee on Appointments for vetting, Kindiki revealed a substantial growth in his net worth.

In just 21 months, Kindiki’s net worth has grown by an impressive Sh150 million, rising from Sh544 million to Sh694 million. This rapid accumulation of wealth has naturally drawn attention and scrutiny.

Source of Wealth Increase

Kindiki attributes this substantial increase primarily to the continued success of his law firm. He explained that although he no longer actively practices law due to his Cabinet Secretary position, the firm continues to operate profitably under the management of others.

Financial Management and Additional Income

Kindiki clarified that his government salary has been primarily used for paying bills. He mentioned that he has been able to manage other expenses using fees from his legal firm, including payments from clients that were pending at the time of his appointment.

Ethical Considerations

Addressing concerns about the source of his wealth, Kindiki stated:

Previous Financial Disclosure

During his initial vetting, Kindiki had reported a net worth of Sh544 million. This was broken down as follows:

– Sh165 million in land and buildings

– Sh50 million in bank deposits

– Various investments in shares and savings cooperatives (saccos)

At that time, Kindiki also mentioned his status as an advocate for the Kenya High Court and his involvement in various small and medium enterprises (SMEs) as a businessperson and consultant.

The vetting process, which began with Kindiki’s appearance, is set to continue for a week as the National Assembly Committee examines various Cabinet nominees.

Here’s a video of part of the interview.

Kindiki responds why he's suitable for reappointment. #tujuemedia #Kindikidelivers Visit our website for more: Tujue.co.ke

Posted by Tujue.co.ke on Thursday 1 August 2024