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HomeWealthOn Who Owns Kenya: Evans Kidero Net Worth

On Who Owns Kenya: Evans Kidero Net Worth

His rise to the top would have been without blemish had it not been for Mumias Sugar Company where he was the managing director for a decade. Dr Evans Kidero was a bright student whose leadership skills were tested at an early age. He served as Mangu National School Head Boy before joining University of Nairobi. Kidero went to graduate in 1983 with a Bachelor of Pharmacy degree. His hunger for knowledge propelled him to pursue a Masters of Business Administration at the United States International University (USIU). He graduated in 1990.

Career progression

Pharmacist at Kenyatta National Hospital
Warner Lambert-4 years
Smithkline Beecham Healthcare International-12 years
Nation Media Group-2 years
Mumias Sugar Company-10 years
Nairobi Governor-5 Years

Tenure at Mumias Sugar Company Kenya

Mumias Sugar Company (MSC) has been a hot potato in the illustrious career of Dr Evans Kidero. In his website kiderotanotena.co.ke, Kidero paints himself as a man who steered a ‘limping’ MSC to profitability. His website reads of his achievement at MSC: “At Mumias, where he was first ever Kenyan MD, he turned a run down, failing business into a resounding success.” The accolades don’t stop there: “Today Mumias Sugar accounts for 60% of the country’s sugar sales, and under his leadership, has diversified into a series of related businesses….,” reads part of his bio.

MSC is as good as dead and Kidero’s has been accused variously of bearing the greatest responsibility. A parliamentary report in 2015 by the Agriculture sub-committee blamed Kidero for the financial woes bedeviling MSC. Mumias East MP Benjamin Washaila at the time said Kidero should be held accountable “for his action that deprived more than six million people their livelihoods.” Among other recommendations made by report titled ‘The Crisis Facing The Sugar Industry In Kenya’, was to bar Dr Kidero from ‘holding any public office as the fraudulent transactions took place under his watch’.

The same year, Dr Kidero made it to the Ethics and Anti-Corruption Commission list. The then Nairobi governor was accused of processing kes300 million payment to lawyer Tom Ojienda. The report alleged Kidero processed kes300 and instantly paid kes280 million for services not rendered. According to the report, the payment was made in Mr Ojienda’s personal account “not an account of the contracted law firm of Ojienda and Co. advocates”.
Former Kakamega Senator Boni Khalwale made damning allegations when President Uhuru Kenyatta presented a cheque to the largest miller in an attempt to revive it. While addressing the locals, Khalalwe accused Dr Evans Kidero of being the prefect of thieves.

“Mumias did not just die, as you consider bringing more money Mr President, pursue criminals who stole from Mumias, na prefect wao, mheshimiwa, prefect ya criminals, is the Governor County, Dr Evans Kidero..” the former Senator claimed. A forensic audit report By KPMG give a blow by blow account of how Mumias went to the dogs under Evans Kidero and his successor Mr Peter Kebati. According to the report, the Mumias management did not follow recommendation made to them by internal and external auditors, and the board of directors.
The alleged corner corner dealings at Mumias continue to haunt Dr Evans Kidero to date.

Nairobi Governor

His performance was thought to be lackluster until his successor Mike Sonko bundled him out of office. Nothing much changed in the city that has a budget that equals Burundi under Kidero. However, Sonko performance has been worse than that of his predecessor.

Properties and Estimated Net Worth of Kidero
Kidero ranks among the richest men in Kenya. His salary of kes924,000 as the Nairobi Governor and his previous lucrative positions-especially in Mumias (and a little pinching here and there)-can be credited to his immense wealth.

Bank accounts

Kidero was accused by the NGO coordination board of operating illegal bank account with the Family bank under his Evans Kidero coordination board. It was alleged that billions of shillings were stashed in the Foundation’s account.

Shares

In 2012, Kidero bought 3.2 million shares at family bank. This means his stake at the lender stands at 1.3 percent. It is not clear if Kidero has bought (or offloaded) more shares. He has shares in other companies.
The former Governor is said to have vast interest in real estate.

Stately Home-$3.2 million

His stately home in Muthaiga is estimated at $3.2 million (kes320 million), according to Business Insider.

Choppers

Kidero is said to own choppers through companies.

2015 Royce Phatom-kes40 million

Evans Kidero fancies the good things in life money can buy. His Royce Phatom is said to cost kes40 million. The then Nairobi Director of Communications Wallter Mongare denied that such a car belonged to the Governor.

Yala Towers-estimated at Sh1.2 billion

50 Rental houses on Riara road-Sh1 billion

Muthaiga Heights-Sh1 billion

Net Worth of Kidero

The former Nairobi Governor estimated net worth is between kes9 billion-kes10 billion.

Other interesting facts about Dr Evans Kidero

DOB May 20,1957
He was born and raised in Nairobi
He was first married to Abigael Kidero. She died on February 2010 after a long battle with cancer
The couple had three children
He remarried in 2011. His wife, Susan Kidero, is the late trade unionist daughter Tom Mboya
Has a short temper-he slapped former Nairobi Women Representative when she stormed his office. Engaged in a fist fight with Sonko.