How Evans Kidero Made His Wealth

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How Evans Kidero Made His Wealth

Former Nairobi Governor Evans Kidero has come out to declare his net worth and explain how he gained his wealth.

Kidero indicated he started accumulating his wealth soon after he left the University of Nairobi 1983 and became employed as a production pharmacist.

In court documents lodged by his lawyer Tom Ojienda, Kidero claims between 1985 and 2012, he had earned a cool Ksh 1.3billion excluding what he earned during his tenure as a governor.

Evans Kidero with his lawyer Tom Ojienda

This ammount was earned from salaries, allowances, pensions, executive allowances, bonuses, rent and stocks.

Kidero stated he earned Ksh 700million from investment, Ksh 270million from rent, Ksh 200million from stocks overseas and Ksh 300million from stocks option.

My prudence did not end at work. As early as1994 I had learnt the art of saving and investing. I started to make several individuals oversees investments in equity which have continued to grow to date,” the court documents read in part.

The former county boss disclosed that he owns shares in at least eight firms.

They include Gem Apartments Limited, Lakeview Apartments Limited, Gem Villas Limited, Gem invest Limited, Gemsuites Limited and Vista Investment Limited.

He also purchased shares in Family Bank Limited and Radio Africa.

Kidero intimated he earned in excess of Ksh 15.5 million from employment between 1985-1991.

Former Nairobi Governor Evans Kidero at Milimani Law Court

According to the Star, between 1992 and 2000, he earned in excess of about Ksh 65million as salary, allowances and bonuses from SmithKline Beecham.

During his three-year-tenure as Managing Director of Nation Media Group, he got approximately Ksh 72million.

From 2003 he was appointed as the Managing Director of Mumias Sugar Company and he made Ksh 300million from salary, allowances, pensions, executive allowances and bonuses during his 9-year-stint at the company.

Last month, Kidero and eight other former county officials were dramatically arrested and charged with the loss of Ksh 213.3million by the Nairobi county government when he was governor.

Kidero made the wealth declaration in attempt to stop Ethics and Anti-Corruption Commission (EACC) from  to search his properties

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