Ksh.3B Wealthy Kabogo Defend His Wealth Source
ICT and Digital Economy Cabinet Secretary nominee William Kabogo has revealed his net worth to be approximately Ksh.3.01 billion during his vetting at County Hall on Tuesday. Kabogo stated that his wealth spans real estate, company shares, land, and personal assets.
“In residential houses, my total net worth is Ksh.700 million, movable assets of about Ksh.40 million, land and farm about Ksh.756 million, cash and current assets of about Ksh.64 million, interest and shares in companies approximately Ksh.1.5 billion. A total of about Ksh.3.01 billion,” Kabogo disclosed.
However, the former Kiambu Governor’s declaration sparked skepticism among Members of Parliament, some questioning if the figures aligned with his known lifestyle.
Suna East MP Junet Mohamed, for instance, challenged Kabogo’s valuation of Ksh.40 million for movable assets, including vehicles. Junet humorously referenced one of Kabogo’s cars, remarking, “I saw another vehicle that looks very ugly on the road, that alone is Ksh.40 million.”
Kabogo defended his estimate, explaining, “Vehicles get devalued almost up to zero, accounting-wise, and a prudent rule in accounting is you anticipate both losses and profits.”
Another MP pointed out Kabogo’s failure to list ownership of a helicopter under movable assets. Kabogo clarified that while he previously owned a chopper, he no longer does.
“I had a chopper when I was a young man and I could fly it myself because I am a pilot. So when I could not fly as much, I decided to let it go,” he explained.
Despite the MPs’ reservations, Kabogo stood by his wealth declaration.
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Ksh.3B Wealthy Kabogo Defend His Wealth Source
