Liberia’s president Joseph Boakai. (Seyllou/AFP)
- Joseph Boakai’s net worth comes in at just under one million US dollars, according to a new declaration.
- His predecessor, George Weah, famously refused to disclose his wealth in 2018.
- Boakai has homes and cars, and a few pigs too, but says he has no offshore assets.
When Liberia’s President Joseph Boakai assumed office on 22 January, he was worth just under a million American dollars, new paperwork shows.
Boakai declared his assets and cash income as part of a gesture to promote transparency among public officials.
“Transparency not only strengthens public trust, but also underscores unyielding dedication to rooting out corruption and fostering a climate of openness and accountability,” he said in a statement to explain why he went public about his wealth.
In both Liberia and South Africa, Boakai would be considered a wealthy man, but not hugely so compared to other senior and established top leaders in business and government.
What he owns
His government declaration shows he is worth US$970 419, or about R17.7 million.
He declared that he owns two plots of land, which earns him R270 000 per year, and other co-owned properties, which bring in another R325 000 per year.
His total investments yield some R780 000 per year – and, in January, he had the equivalent of about R100 000 in cash.
Boakai declared that he had no money outside Liberia, or any stocks or bonds.
His residential properties were valued at a bit over R12 million, his cars at another R3.4 million, his cattle worth under R300 000, and pigs another R100 000 or so.
Preaching transparency
Last year, Liberia was rated 145th among 180 countries on the Transparency International corruption index.
One of Boakai’s election promises, as he beat former World Footballer of the Year and incumbent George Weah, was to tackle corruption.
Weah is remembered for refusing to declare his assets when he came into power in 2018, despite doing so during his first attempt for the top job in 2005.
His time in office saw lurid allegations of massive stashes of missing banknotes – and New York-based financial and risk advisory firm Kroll, after an audit, said more than R300 million worth of notes were printed and not accounted for.
When he entered office, Boakai said he had inherited an economy with financial statements that did not make sense, because there was less money than there should be.
The News24 Africa Desk is supported by the Hanns Seidel Foundation. The stories produced through the Africa Desk and the opinions and statements that may be contained herein do not reflect those of the Hanns Seidel Foundation.
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Publish date : 2024-06-24 16:49:45