Friday, 4 April, 2025
I will digitize government assets and liabilities, fight corruption in state corporations if approved, nominee tells Finance Committee๐๐ฎ๐ง๐ ๐ ๐๐จ๐ฐ๐๐ซ ๐ ๐ซ๐ข๐๐๐ฒ ๐๐ฉ๐ซ๐ข๐ฅ ๐, ๐๐๐๐
Cyrell Odede Wagunda, the nominee for the newly established State Department of Public Investment and Asset Management, has pledged to spearhead crucial reforms within State Corporations if his appointment is confirmed.
During his approval hearing before the Hon. Kimani Kuria-led Departmental Committee on Finance and National Planning, Mr. Odede outlined his vision for more efficient and transparent state corporations.
The 62-year-old nominee emphasized his commitment to injecting professionalism into State Corporations and implementing robust measures to combat corruption.
He also highlighted the urgent need to digitize government assets and liabilities for effective management.
"Honorable Chair the current manual recording system for government assets and liabilities is vulnerable to tampering. Digitization is paramount. We also require a standardized asset valuation framework across all sectorsโ, Mr. Odede stated.
Addressing the proposed reforms outlined in the January 2025 Cabinet Memo, which includes merging State Corporations with overlapping roles, Mr. Odede assured the committee that he would prioritize its implementation.
When questioned by Committee Members about managing idle assets, particularly those belonging to public universities, he proposed a strategic evaluation.
โHon. Members if approved, I will assess all assets to identify those that can generate economic value through leasing and those that are unsustainable for sale, while directing the proceeds to settle institutional debts."
The legislators also delved into the sensitive issue of privatizing certain State Corporations, seeking to gauge Mr. Odede's ability to navigate the political complexities involved.
Acknowledging the critical nature of the role, Committee Members stressed the importance of collegiality and teamwork for effective delivery in the new role.
"If confirmed, I will foster a collaborative environment to ensure the success of this newly created State Departmentโ, Mr. Odede affirmed.
๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ฆ๐ข๐ง๐๐:
Mr. Odede holds a Bachelor of Commerce from Nagpur University in ฤฐndia (1985), and a Master of Arts in Economics (1987) from the same University.
The nominee has had a long career at the Kenya Revenue Authority (KRA) rising from a Revenue Officer to Deputy Commissioner Intelligence Management Operation at retirement in November, 2022.
He has been lecturing at the Kenya School of Revenue Administration since 2023.