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Musalia Mudavadi: Where I Invested To Be Worth Ksh4 Billion

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Former Vice President Musalia Mudavadi has revealed that he is worth approximately Ksh4 billion, being one of the few Kenyan billionaires.

Speaking before the Committee on Appointments during his vetting for the position of the Prime Cabinet Secretary, Mudavadi revealed that most of his income is drawn from rentals, dividends from shareholding, interests and his farms.

“If I take my investment in shares in some companies and also properties that I own I would put my net worth at about Ksh4 billion, Mudavadi said.

Mudavadi was the shortest-serving Vice President of Kenya, serving during the latter days of retired President the late Daniel Arap Moi.

Mudavadi succeeded his father the late Moses Mudamba Mudavadi in Sabatia Constituency to become an MP in 1989. He went on to win the seat in the 1992 and 1997 general elections.

Mudavadi also served President Moi’s government as a minister since he was elected an MP in 1989 up to when he (Moi) retired in 2002, signing off as the last Vice President in Moi’s era.

In the subsequent government that was led by the late President Mwai Kibaki, Mudavadi served as the Minister for Local Governments, a role that ended unceremoniously.

In 2010, he was accused of orchestrating a Ksh283 million cemetery land fraud. The fraud involved the City Council of Nairobi, which allegedly bought land valued at Ksh24 million for nearly Ksh300 million.

The case has remained unresolved to date.

Read: Our Vow to Scrap CBC – Ruto, Mudavadi

>>> Uhuru, Mudavadi power-sharing deal

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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Mwenda Zacchaeus

Let open en wish He shall play his role en serve all the houses equally