Former ICT Cabinet Secretary Eliud Owalo’s net worth increased by an average of KSh9.1 million per month over the past 39 months following his entry into government in October 2022, based on his own public declarations.
While appearing before Parliament for vetting on October 21, 2022, Owalo declared a net worth of KSh645 million, detailing a diverse portfolio of properties, assets and investments.
“My financial net worth is KSh645 million,” Owalo told MPs at the time.
“My Nairobi house is valued at KSh120 million, my upcountry residential home at KSh70 million, land in upcountry worth KSh200 million, four vehicles valued at about KSh15 million, and a hotel facility still under construction worth KSh80 million. I have also ventured into commercial tree planting, which I estimate at KSh160 million.”
On February 1, 2026, Owalo — now a declared 2027 presidential aspirant — told Citizen TV’s Jeff Koinange Live that his current net worth stands at approximately KSh1 billion.
The disclosure represents a KSh355 million increase in wealth over 39 months, translating to an average growth of about KSh9.1 million per month.
Owalo recently resigned from his role as Deputy Chief of Staff in charge of Delivery and Government Efficiency in the Office of the President, a move he says was aimed at freeing him to pursue his presidential ambitions.
He has since criticised President William Ruto’s administration, arguing that the government has failed to deliver on key promises made to Kenyans, and positioning himself as an alternative ahead of the 2027 General Election.
Owalo’s latest wealth declaration has already sparked debate online, with supporters citing business growth and investments, while critics question the pace of accumulation during his time in government.
