Former Kiambu Governor William Kabogo is one of the richest politicians in Kenya. He has several expensive properties in his name, due to his success in business.
His lavish lifestyle has for many years left many wondering what is the source of his wealth, keeping in mind he was already rich even before joining politics.
Kabogo recently revealed how he made his billions during an interview with a local TV station, where he dismissed allegations of engaging in the illegal drug business.
"The drugs claims are pure rubbish, total nonsense. Why do they only come up during the elections? Why are they not talking about them now when there is no election?" he asked.
"Hard work is the source of my wealth. I'm a businessman with interests in various sectors. Most people don't know that in the year 2000 no one in Kenya used to import more vehicles than me. At the age of 38, I could import a vessel full of vehicles from Japan," he added,
Kabogo, who also has interests in the real estate sector revealed that he borrows loans from banks to keep expand his businesses and invest in various fields. However, his approach in dealing with the banks maybe somehow different from how ordinary Kenyans might be doing it.
Speaking during an interview on The Wicked Edition show last week, Kabogo revealed that he negotiates with banks on how to pay back the loans, and even requests for other loans before clearing the previous ones.
"Personally, I am in the real estate business, in a case where I have borrowed from a bank and the money cannot complete my project, I go back to the same bank and tell them I need more money or else I will not pay the previous debt, the choice is theirs. If they don't add me more money it means I will not pay them," said Kabogo.
The former county boss advised Kenyans to negotiate with banks especially in cases where they are unable to pay back their loans. He said instead of letting the bank take your assets such as cars over failure to pay a loan, you can ask them to allow you use the car as a taxi and then use the money you earn to pay your monthly instalments.