Nairobi.
John Mbadi, the nominee for Cabinet Secretary of the National Treasury and Planning, has declared his net worth to be Sh380 million. This declaration was made during his vetting by the National Assembly’s Appointments Committee, chaired by Speaker Moses Wetang’ula.
Mr. Mbadi clarified that his net worth does not include liabilities amounting to Sh57 million. These liabilities consist of a mortgage from the Parliamentary Service Commission, Sacco loans totaling Sh20 million, and a Sh12 million loan from KCB Bank. Additionally, he mentioned deferred income investments with ICEA worth approximately Sh6 million and an undetermined amount from his pension.
“The only deferred income investments which I have is with ICEA of about Sh6 million and the pension which I do not know how much it would be,” he explained.
During the vetting, Speaker Wetang’ula noted that the committee had received 34 memoranda concerning Mr. Mbadi’s nomination. The feedback was mixed, with some in support and others against his nomination, including three memoranda that highlighted internal political conflicts.
“Some said you were right to be nominated, others not, and there were three that revolved around parochial conflicts within your political setup,” Wetang’ula stated.
Mr. Mbadi’s financial disclosure and the committee’s reception of public feedback are part of the comprehensive vetting process to ensure transparency and accountability in his potential appointment as Treasury CS.
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