My net worth is 380 million shillings

Treasury Secretary-designate John Mbadi said his net worth is 380 million shillings.

Mbadi explained that this amount does not include liabilities which amount to 57 million shillings.

He added that these liabilities are in the form of a mortgage with the Parliamentary Service Commission, Sacco loans (Sh20 million) and a loan from KCB Bank amounting to Sh12 million.

“The only deferred income investments I have are investments in ICEA of about 6 million shillings and a pension fund, the amount of which I don’t know,” he explained.

The chairman of the National Assembly’s verification committee, Moses Wetangula, said 34 official notes had been received about him.

“Some said you were right to be nominated, others said you were wrong, and three of them were about local conflicts within your political party,” he said.