Cabinet nominee for the Sports and Youth Affairs Ministry Kipchumba Murkomen has revealed that his net worth currently stands at Sh 620 million.
While appearing before the National Assembly's vetting committee on Saturday, August 3, the former Roads and Transport Cabinet Secretary told the panel that his assets value appreciated by Sh 70 million in 21 months.
In September 2022, Murkomen revealed to the same committee that his net worth was Sh 550 million.
The appreciation was occasioned by a mortgage loan he took and proceeds from farming.
"After I was approved as a CS in 2022, I took a mortgage of Sh 40 million and invested it, and besides that, my assets have generally appreciated by about Sh 20 million. Besides that, my assets have generally appreciated. Based on the calculation of the index existing. I also got Sh 10 million in other earnings from farming and other businesses," said Murkomen.
Read More
The nominee further denounced the assertions that he was an owner of two choppers.
"Not yet, maybe in many years later after I have retired," he said.
At the same time, Murkomen defended himself over claims of displaying affluence in public, thus attracting scrutiny from citizens who argued he might be living off the taxpayer's money.
"On the question of opulence, I must say this with utmost respect, that I don't know what it means...I have never gloated anywhere about what I wear or anything I have. I have never bragged about the car I drive or where I live," he said.
President William Ruto recalled Murkomen to the National Executive after firing his entire Cabinet on July 11.
If approved, he will be taking over from Ababu Namwamba.
