Governor Waititu’s wealth: Kiambu governor Ferdinand Waititu has bought a building on prime Nairobi real estate for about Sh. 250 million.
The seven story-building on Koinange Street is the place where his wife, Susan, was arrested yesterday while she was supervising alterations to extensions.
It is not clear when Waititu acquired the property from Jamii Bora Bank, but multiple sources say he may have bought it early this year.
“The owners of the building had an offer of Sh. 230 million late last year so Waititu came with an improved offer of about Sh. 250 million. He wants to make part of it a hotel,” a Jamii Bora employee said.
The building hosts many businesses, including a branch of Jamii Bora Bank. Yesterday, Waititu confirmed that the building was his but added that he would not discuss how and when he acquired it.
“We are undertaking some repairs and alterations on it. We can talk later about other things because I’m in a meeting at the moment,” he said before disconnecting his phone.
As a governor, Waititu’s monthly salary is Sh. 924,000, according to the Salaries and Remuneration Commission scales. A host of other allowances increase his emoluments to Sh. 1.4 million.
Before his election, Waititu was Kabete MP, earning a salary of Sh. 621,250. He had run for Nairobi governor in 2013 but lost to Evans Kidero.
This feature is by The Star Newspaper.