Secretary to the Cabinet nominee, Mercy Wanjau was on Saturday, October 22, hard-pressed to explain the discrepancies that emerged in her Ksh475 million net worth declaration.
MPs argued that she presented two conflicting figures in Parliament, a document she presented to the clerk cited Ksh188 million and the one she referred to at her vetting valued her at Ksh475 million.
Wanjau told the Committee on Appointment that she amassed her wealth through her work experience in the public and the private sector, investing in land, apartments, agriculture, stocks and bank deposits.
"My financial net worth is Ksh475,400,000, and this is comprised as follows land and buildings at about Ksh380.4 million, shares stocks and deposits at about Ksh89 million.
"Agriculture in the form of large commercial farming of trees at about Ksh6 million and four motor vehicles about Ksh2 - Ksh3 million," she stated.
However, North Imenti MP Dawood Abdul Ibrahim faulted Wanjau, questioned the difference in the two valuations and asked Wanjau to clarify.
Wanjau noted that the confusion came after she adjusted her total wealth while considering the current valuation.
"What I had done was to initially provide it at 50 per cent adjusted for debt, and subsequently, on speaking to my accountant, I was guided that based on the requirements for net worth, I needed to provide information on realisable market value.
"Whereas previously, I had disclosed on the purchase price the adjustment, therefore, moved upwards on the assumption that the property was being sold now. I did call the chambers and indicated that I needed to make the adjustment, and I provided the adjusted documents," she clarified.
The former Communication Authority of Kenya (CA) Director General further revealed that she had a debt on land and apartment north of Ksh70 million. She, however, insisted that she had made significant plans to clear the credit.
Wanjau further told the committee that she owned property in South Africa too, which, when valued, increased her net worth.
"Tthe land and buildings I own are community of property as I am married. These properties are in Nairobi, where we own some apartments and the home that we live in Nanyuki, Malindi, and we also have an apartment in South Africa in Johannesburg," she added.
Her Profile
The nominee served as CA assistant director, Regulatory and Governance between 2002 and 2017. She was then promoted to director of Legal Services.
Wanjau also served as a trustee at the SOS Children’s Villages and as board chairperson at the CPS Governance Centre Limited. She also sat at the Institute of Certified Secretaries council between 2017 and 2020.
She also played a key role in reviewing broadcasting regulations in 2015.
The nominee studied law at the University of Nairobi before obtaining a Master’s degree at the University of Cape Town, South Africa.
She vowed to use her 22 years of service, especially in the communication sector, to protect cabinet information.
