Trade Cabinet Secretary nominee Salim Mvurya has revealed his net worth to be Ksh.158 million during his appearance before the National Assembly’s Committee on Appointments for vetting.
Mvurya, who previously served as the Mining and Blue Economy CS, had a net worth of Ksh.120 million as of September 2022, when he was vetted for his former ministerial role.
Mvurya explained that his wealth comes from property acquisitions, including houses and cars, investments in land, and cash in his bank accounts.
“The value of my properties appreciated over the period,” Mvurya told the committee on Saturday.
In 2022, Mvurya’s declared net worth prompted questions from the committee, who wondered why his net worth seemed “conservative” despite his 10-year tenure as Kwale County Governor.
“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,” National Assembly Majority Leader Kimani Ichung’wah asked him then.
“Did you have other loans or liabilities by the time you were Governor? Did you have access to facilities such as mortgage facilities? Have you taken up as Governor any mortgage facility or car loans that you were servicing by the time you were Governor?”
In response, Mvurya explained that he had incurred loans during his tenure, which he focused on clearing. “During my term as Governor, I had loans which I paid and concluded with various banks,” he said.
Mvurya’s updated net worth reflects an increase due to the appreciation of his properties over the past year.
