Former Sports Cabinet Secretary Ababu Namwamba was hard-pressed to explain the sources of his wealth.
While appearing before the Defence, Foreign Relations, and Intelligence Committee on Friday for his vetting as a nominee for Permanent Representative of Kenya to the United Nations Environment Programme (UNEP) and the United Nations Office at Nairobi (UNON), Namwamba was tasked to explain how he amassed wealth worth millions.
The nominee who in the past served as Budalangi Member of Parliament, declared his net worth at Ksh 500 million.
He explained that his wealth emanates from vast investments ranging from ownership of residential properties in Nairobi and Busia County.
Additionally, he mentioned that his business interests, shareholding, and compounded pensions contribute to his total net worth.
“My finances are calculated from my two residences, one in Nairobi and the other in Busia County, as well as my business interests, shareholdings, and pensions, which have been compounded to come to a total net worth of Ksh 500,000,000,” he said.
Ababu Namwamba Declares Net Worth
Namwamba did not divulge the exact dividends but revealed that his shareholdings were in major companies such as Safaricom, Cooperative Bank, and Kenya Power.
“Indeed, I have provided a statement that I would expect my income from my holdings. 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 said.
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The committee members, led by Kinangop MP Thuku Zachary Kwenya, however, pressed Namwamba to explain his wealth in figures.
“The question is expressed that you list the sources and amounts because the amounts are known, especially on your emoluments as Cabinet Secretary. You know how much is due to you and how much is your pension. It should be stated in figures,” MP Thuku said.
However, Belgut Member of Parliament Nelson Koech, who chairs the committee, intervened to defend Namwamba, stating that he should provide the information later.
Namwamba Wealth Grows with Ksh 75 million in 2 Years
He revealed that his wealth included his residence in Nairobi and Busia County, a business titled Chairs Bay, two land holdings, shareholdings in Safaricom, Cooperative Bank, and Kenya Power, as well as his pension income.
Ababu added that he owns two motor vehicles—a Range Rover and a Jeep Wrangler Rubicon—and two water vessels, bringing the total to Ksh425 million.
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Ababu Namwamba New Role
Namwamba served as Sports CS in the Kenya Kwanza regime led by President William Ruto before the anti-government protests by Gen Z piled pressure on the Head of State to dismiss his Cabinet.
Following the inclusion of opposition members in the new Cabinet in what was called the broad-based government, Namwamba was among the CSs who were left out.
His Ministry was taken over by Kipchumba Murkomen midway through 2024. Months later, President Ruto caused another shakeup in the Cabinet, with Murkomen switching dockets from Sports to the Interior Ministry.
Meanwhile, Youth Affairs, Creative Economy, and Sports docket has been taken over by Salim Mvurya, who previously served as the CS for Trade. Mvurya had previously served as the Mining CS, a docket now led by former Mombasa Governor Hassan Joho.
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