Outgoing president to declare Kenya’s assets

President Uhuru Kenyatta during the State of the Nation Address. An outgoing president will be required to declare Kenya’s assets before leaving office courtesy of a proposed law. (PHOTO: COURTESY)

An outgoing president will be required to declare Kenya’s assets before leaving office courtesy of a proposed law.
The Assumption of Office of President (Amendment) Bill, 2016, set to be introduced in Parliament soon, will compel
the retiring Head of State to tell the citizens how rich or broke the country is.

He or she will be made to tell the country how much his Government has accumulated in assets and liabilities during
his tenure, and future economic prospects as he leaves office or seeks an additional term, according to the proposals seen by The Standard.

“Two months before the general election, the President will be required to prepare and table before the two Houses, a
report showing the economic status of the country,” reads the Bill.

The proposals seek to amend section 14 of the Act that gives the procedure for handing over power. Under the current arrangement, an outgoing President is only required to surrender his ceremonial sword and a copy of
the Constitution to a successor upon signing the certificate of inauguration.

In the absence of public records on the county’s financial position, it means an incoming president may find himself
presiding over a broke country.

The proposed law will also seek to stop corrupt individuals who may be tempted to steal public funds just before a general election, as has been claimed before.

The law will also seal loopholes where a rogue administration may want to accumulate unnecessary debts before
the end its term and transfer it to the incoming administration.

Under the proposals, an outgoing president will be under obligation to declare any loans guaranteed his government
has taken, the national debt and projected economic growth before he leaves office.

Although the Auditor General is required to make public all government accounts, this is often done late and this has
opened up a window for theft of public funds during the transition period. 

In 2014, former Prime Minister  Raila Odinga claimed large sums of money were transferred from Central Bank of Kenya to secret accounts during the transitional period from the grand coalition government.

Odinga claimed the money transported in gunny bags was deposited in accounts belonging to a senior security official.

Also, amendments to a bill affecting governors, currently before the Senate, requires that they too table an inventory
of assets and liabilities before their county assemblies.

“Three months before elections, the governor shall submit to respective county assemblies a report showing the
list of assets and liabilities accumulated,” it reads.