Trade CS Nominee Salim Mvurya Reveals Ksh.158 Million Net Worth

Trade Cabinet Secretary nominee Salim Mvurya disclosed his net worth to be Ksh.158 million on Saturday during his vetting by the National Assembly’s Committee on Appointments. This disclosure marks a significant increase from his previously declared net worth of Ksh.120 million in September 2022, during his vetting for the position of Mining and Blue Economy Cabinet Secretary.

Mvurya, who served as the Governor of Kwale County for ten years before his tenure in the Ministry of Mining and Blue Economy, explained the sources of his wealth. He attributed his financial growth to property acquisitions, including ownership of houses and cars, investments in land, and cash holdings in his bank accounts. “The value of my properties appreciated over the period,” Mvurya told the committee on Saturday.

During the 2022 vetting process, Mvurya’s declared net worth of Ksh.120 million drew attention and questions from the committee. National Assembly Majority Leader Kimani Ichung’wah queried the conservativeness of his net worth despite Mvurya’s extensive public service career. Ichung’wah pointed out that, based on Mvurya’s salary as Governor, which was approximately Ksh.1.361 million gross per month, his earnings over ten years would total about Ksh.88.6 million, even after accounting for taxes.

“You have indicated that you are worth Ksh.120 million… You have also indicated that your source of income is your salary as Governor of about Ksh.1.361 million in gross terms. Assuming in gross terms if you were to take a tax of 35 percent, in 10 years you would have earned about Ksh.88.6 million,” Ichung’wah noted. He further inquired if Mvurya had other loans or liabilities during his tenure as Governor, including mortgage or car loans.

In response, Mvurya acknowledged that he had incurred loans during his governorship, which he prioritized clearing. He emphasized that his financial management involved leveraging available facilities such as mortgages and car loans, which were part of his financial obligations while serving as Governor.

The revelation of Mvurya’s increased net worth underscores the appreciation of his assets over the past year. The significant rise of Ksh.38 million in his declared net worth highlights the value growth of his investments and properties. As he transitions to the role of Trade CS, Mvurya’s financial portfolio reflects a blend of strategic investments and asset management.

Mvurya’s background includes a robust career in public service, where he has navigated various roles and responsibilities. His experience as Kwale County Governor and as the CS for Mining and Blue Economy has equipped him with insights into governance, economic development, and resource management. These experiences are poised to inform his tenure as Trade CS, where he will oversee trade policies, economic partnerships, and market regulations.

The vetting process by the National Assembly’s Committee on Appointments serves as a crucial step in assessing the suitability of nominees for public office. Mvurya’s financial disclosure and subsequent questioning by the committee are part of the transparency and accountability measures integral to the vetting process. As Mvurya steps into his new role, his financial declarations and responses to the committee’s inquiries provide a comprehensive view of his economic standing and financial practices.

In conclusion, Salim Mvurya’s net worth of Ksh.158 million, as revealed during his recent vetting, reflects a substantial growth from his previous declaration. His journey through public service and asset management illustrates a trajectory of financial prudence and strategic investments. As he assumes the role of Trade CS, Mvurya’s financial acumen and governance experience are expected to guide his contributions to Kenya’s trade and economic landscape.