Mutahi Kagwe, the nominee for Agriculture Cabinet Secretary, has disclosed a personal net worth of Ksh842 million. Speaking during his vetting in Parliament on Tuesday, January 14, 2025, Kagwe elaborated on how he accumulated his wealth through strategic investments and decades of hard work.
Breakdown of Investments and Assets
Kagwe detailed that his wealth primarily stems from:
- Real Estate: Investments in the property market, including ownership of multiple parcels of land across Kenya.
- Assets: A combination of tangible assets accumulated over the years.
“I am worth Ksh842 million. Essentially, my wealth is in assets, real estate, and pieces of land here and there accumulated over the years,” Kagwe explained.
Wealth Growth Over Time
Between 2020 and 2024, Kagwe’s net worth increased by Ksh174.2 million, reflecting a steady growth in his investments:
- In 2020, during his nomination as Health CS, Kagwe declared a net worth of Ksh667.8 million.
- He attributed his financial growth to consistent effort and strategic planning over his career.
“I started doing feasibility studies in my room at Hall 2 at the University of Nairobi. Over 40 years, I must have made some money,” he noted.
Among the Richest in President Ruto’s Cabinet
If approved for the Agriculture CS position, Kagwe will join the ranks of the wealthiest members in President William Ruto’s Cabinet. Currently, the richest Cabinet members include:
- Prime CS Musalia Mudavadi: Net worth of Ksh4 billion
- Mining CS Hassan Joho: Net worth of Ksh2.3 billion
Next Steps
Parliament will deliberate on Kagwe’s nomination in the coming days. If confirmed, his extensive wealth and investment background may influence his tenure as Agriculture CS, especially in driving policy and fostering sector growth.
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