NAIROBI, Kenya – Kiharu Member of Parliament Ndindi Nyoro has proposed tougher wealth accountability rules for leaders seeking the presidency, including public asset declarations, reviews after leaving office, and restrictions on asset transfers involving former leaders and their associates for up to 25 years.
Speaking on Monday while unveiling his new party, Peoples Party of Kenya, Nyoro said the move would strengthen accountability and transparency among leaders seeking high office ahead of the 2027 General Election.
Nyoro called for the criminalisation of proxy investments, arguing that leaders should not be allowed to hide wealth or investments through other people.
“Kenya must criminalise proxy investments. We must criminalise proxy investments,” Nyoro said.
He proposed that political leaders, particularly presidential candidates, should declare all their assets publicly before taking office and have their wealth reviewed when they leave.
“Then the second thing, anyone seeking power and especially in the presidency, you have to come in the open. You list all your assets, and by the time you leave power, we also have to review your assets,” he said.
Restrictions on asset transfers
The MP also proposed restrictions on the transfer of assets to other people or former leaders after they leave office. He said such transfers should remain subject to scrutiny for 25 years.
“And then Kenya has to have a cap that there should never be assets transferred to those other people or to those leaders 25 years after they leave power,” Nyoro said.
Concerns over public debt
Nyoro also raised concern over the country’s growing public debt, saying Kenya’s total debt had reached Sh13 trillion. He claimed that Kenya was taking on new loans every day, putting a growing financial burden on citizens.
“Every Kenyan, including the one who was born today, is born with a debt of Sh228,000,” Nyoro said. “We are borrowing Sh4 billion every day.”
The legislator argued that the country should focus on economic growth and use its natural resources to reduce its dependence on borrowing. He identified oil and minerals as the main resources that could help Kenya deal with its debt burden.
“The silver bullet that we have as a country to come out of this issue of debt is oil and minerals,” he said.
Protection of natural resources
Nyoro pointed to oil reserves in Turkana and mineral deposits in Kwale, saying the resources should be protected and used for the benefit of Kenyans.
“God has blessed our country because we have oil deposits and minerals. And all the more reason, dear Kenyans, we must guard these assets viciously,” Nyoro said.
He warned leaders involved in the management of Turkana oil to ensure the resource benefits both the county and the country.
“My warning to those involved in the Turkana oil issue is that you must have the interests of Kenyans at heart. The oil in Turkana should benefit Turkana County, Kenya, as a whole and also help us deal with this issue of huge debt,” he said.
Nyoro also warned against attempts to take control of mineral-rich areas for personal gain.
“We are not going to allow you to take over the mineral deposits for your own personal benefit because that is the silver bullet we have economically, oil and minerals, to deal with the issue of debt,” he said.
Proposed changes to Judiciary
He also proposed changes to the Judiciary, including doubling its capacity within five years. Nyoro further called for a legal requirement for the Judiciary to receive at least 1.5 per cent of the country’s national revenue every year.
Digital services and banking reforms
The MP also proposed the creation of a government-owned company that would bring together platforms and entities including eCitizen, the Social Health Authority and other government digital services. He proposed that the company eventually be listed on the Nairobi Securities Exchange, with the government retaining a 51 per cent stake.
Nyoro said the arrangement would help reduce political patronage while giving Kenyans a greater stake in state-owned assets and services.
Nyoro also called for measures to prevent foreign institutions from taking over Kenyan banks. He argued that profitable local banks should instead be strengthened and developed into major regional and continental institutions.
“Kenya must covertly frustrate the takeover of the Kenyan banks by international institutions,” he said.
Nyoro said stronger Kenyan banks would support job creation and the growth of local industries.
