Sports and Youth Affairs Cabinet Secretary nominee Kipchumba Murkomen has declared his net worth to be Ksh620 million up from Ksh550 million reported during his previous vetting in September 2022.
Appearing before the National Assembly Committee on Saturday, August 3, 2024, Murkomen attributed the rise in his assets to strategic financial decisions.
He revealed that he took some mortgages available for public servants which allowed his net worth to surge by Ksh40 million.
“Mr Speaker, there is a scheme that allows public servants to take mortgages. After I was approved, I took a mortgage of Sh40 million and invested it. Besides that, my assets have generally appreciated by about Sh20 million.”
“Besides that, my initial assets have appreciated by about Ksh20 million. I got an additional Ksh.10 million in earnings from farming and other businesses so my net worth has increased by approximately Ksh70 million from what I declared in 2022.”
Murkomen addresses arrogance claims
“I do not know what opulence is. Opulent people bask in wealth and modern things. I just became a victim of a crossfire of conversation. I have never bragged about what I wear, what I have, where I live, or the car I drive,” he added.