Ghost Of Goldenberg Scandal Haunts Mudavadi As He Reveals Networth

Fridah Wangechi | 1 year ago
Amani National Congress (ANC) leader Musalia Mudavadi at the Cabinet Secretary vetting exercise in parliament on Monday October 17 COURTESY

The vetting of the Cabinet Secretaries nominees by the National Assembly appointment committee officially began on Monday, October 17, with Prime CS nominee Musalia Mudavadi first to take the stand.

Mudavadi was among those implicated in the Goldenberg Scandal that rocked the country in the 1990s and this was hence an issue raised during the vetting exercise given the gravity of the loot that saw Kenya lose more than Kshs 27 billion in an unscrupulous gold importation scheme.

Mudavadi defended himself stating that it was after his assumption of office at the Ministry of Finance that he oversaw the dismantling of the cartels behind the scandal , by stopping transfers of public funds to export compensation schemes, the pre-shipment export finance, retention accounts, and forex cs.

“I was appointed the Minister of Finance when the Goldberg saga was coming to its full-blown situation. This was really a scheme where the intention of government went sour and was misused, causing the country a lot of damage and expenses,” Mudavadi said.

“I took up the role of dismantling the network of Goldenberg cartels. There was so many issues to this and subsequently there was judicial commission of inquiry which was conducted for a two year period and the report clearly exonerates me for being part of the scandal,” he stated.

During the Kibaki regime, the judicial commission of inquiry led by Justice Samuel Bosire cleared him after establishing that he was innocent as he did not approve the transfer of funds to companies linked in the scandal. Those responsible such as the Goldenberg International and mastermind of the scandal Kamlesh Pattni, the then Minister of Finance George Saitoti were among others were held culpable.

"We have evidence that Mudavadi almost single handedly opposed the payment to GIL of Kenya Ksh2.1 billion which had been recommended by PAC. In the circumstances, the role he might have played in the Goldenberg Affair was innocent,” said Bosire.

The scandal was brought up after the Amani National Congress(ANC) leader  revealed his networth, disclosing that his sources of wealth and income which is a requirement for all public servants to declare wealth before assuming office.

"If I take my investment in share in some companies and also properties that I own I would put my net worth at about Kshs 4 billion," he revealed.

His other sources of income are from rental income, dividends from shareholding, interests and other expenses that come from the farm.

Related Stories