Former Sports Cabinet Secretary Ababu Namwamba has revealed a significant increase in his net worth over the last two years. Currently valued at Sh500 million, Ababu disclosed this during his vetting for the position of Kenya’s Permanent Representative to the United Nations Environment Programme (UNEP) in Nairobi. This marks a Sh75 million growth from his previous declaration of Sh425 million, made when he appeared before the National Assembly’s Committee of Appointments during his vetting as a CS.
Ababu’s wealth is attributed to a mix of real estate, business investments, shareholdings, and pension. He owns properties in Nairobi and Busia and has stakes in prominent companies such as Safaricom, Cooperative Bank, and Kenya Power. During his vetting, he confirmed that while he holds shares in these major firms, he refrained from specifying the exact dividends received in any given cycle, acknowledging that such details are typically not publicly known.
In addition to Ababu’s vetting, the committee also heard from former Cabinet Secretaries Andrew Karanja and Margaret Ndung’u. However, Ndung’u declined the UNEP nomination, citing personal reasons in a letter to the committee. She expressed regret over missing the session and stated that her decision was based on compelling personal matters. Belgut MP Nelson Koech, who chairs the committee, expressed disappointment, noting that this was the second time a nominee had turned down the UNEP position.
Ababu, on the other hand, emphasized his suitability for the UNEP post, citing prior discussions with President William Ruto regarding the responsibilities of the role before the public announcement. With his extensive experience in public service and business acumen, Ababu is confident that his background will equip him to effectively represent Kenya at the UNEP.
His nomination has sparked discussions, particularly given his impressive financial standing and diverse investments, adding a personal dimension to his professional trajectory.
