Muturi questions KPA’s Ksh10B valuation after Ksh150B spending

Democratic Party leader Justin Muturi has questioned the Kenya Ports Authority’s (KPA) reported valuation of Ksh10 billion, citing a discrepancy with the approximately Ksh150 billion spent on the authority over the past 15 years. During a speech in Mombasa, Muturi called for greater transparency in the management of strategic national assets, demanding explanations from those responsible for handling public funds.

He emphasized that the Ksh10 billion valuation of KPA’s investments, alongside the reported expenditure of Ksh150 billion, raises serious questions that need clear answers. Muturi, representing the Ukombozi Alliance, opposed questionable transactions involving strategic national assets and stressed that any investment decisions must comply with the law and serve the best interests of Kenyan citizens.

He added that unlawful transactions should be addressed through the appropriate legal channels, asserting that "Kenya is not for sale. Public wealth must serve the people." The DP leader’s remarks follow public attention on KPA’s corporate structure after a purported document circulated online claiming the authority was listed as a public limited company.

However, the National Treasury debunked this claim, stating it was a fake document with nominal share capital of Ksh10 billion. Muturi’s concerns come amid scrutiny of KPA’s management following the spread of the false document, and the published financial figures of the port authority provide additional context for the ongoing debate over its valuation.