Co-operatives and MSME Development Cabinet Secretary nominee Wycliffe Oparanya has placed his net worth at Ksh600 million.
Speaking during his vetting by the National Assembly Committee on Appointments on Sunday, August 4, 2024, the nominee stated that his wealth is mainly made up of houses and buildings.
However, Oparanya did not give a breakdown or the location of his assets.
“My net worth is about Ksh600 million, mainly made up of buildings and houses that I reside in,” Oparanya responded to the question raised by the committee’s chairperson, Moses Wetang’ula.
Wycliffe Oparanya: My net worth is Sh600 million#K24Siasa pic.twitter.com/dS89YTX6WB
— K24 TV (@K24Tv) August 4, 2024
Overhaul Hustler Fund
The former Kakamega County Governor, who is over half a billion rich, promised to institute various reforms if approved to lead the Ministry of Co-operatives and MSME Development.
Oparanya pledged to re-engineer President William Ruto’s brainchild initiative, the Hustler Fund. He disclosed his intentions to ensure that the fund is effectively managed and structured.
The former Orange Democratic Movement (ODM) Deputy Party leader reiterated that his primary focus would be to establish a robust legal framework for the Hustler Fund, along with creating a board and appointing staff to oversee its operations.
“If you approve my nomination, the first thing I would do is make sure that there is a proper legal framework and ensure there is a board and staff to manage the fund,” Oparanya told members of the vetting committee.
He further informed the members that the only issue with Hustler Fund is that it was launched in haste but indicated that it has the potential to transform the lives of its beneficiaries.
“I know I was among the people who were opposing the hustler fund, and I had not known the facts about the hustler fund until now that I have been briefed about the hustler fund. I think this fund, if well managed, is a fund that will take our people from poverty,” he explained.
Co-operatives sector
Oparanya also passionately talked about his plans to revamp the co-operatives sector and make them profitable.
Dr Wycliffe A. Oparanya
@GovWOparanya/X
Further, he told the members of the committee that MSMEs can be nurtured to create even more employment opportunities in the country.
“We can create jobs through Small, and Medium-sized Enterprises (MSMEs) because they can even employ about 15 million people. This is why it has become a pillar of the national government.”