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{
"id": 1523682,
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"type": "speech",
"speaker_name": "Sen. Kathuri",
"speaker_title": "The Deputy Speaker",
"speaker": {
"id": 13590,
"legal_name": "Murungi Kathuri",
"slug": "murungi-kathuri"
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"content": " Sen. Cherarkey, kindly proceed."
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{
"id": 1523683,
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"text_counter": 182,
"type": "speech",
"speaker_name": "Sen. Cherarkey",
"speaker_title": "",
"speaker": {
"id": 13217,
"legal_name": "Cherarkey K Samson",
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"content": "Thank you, Mr. Deputy Speaker, Sir. As I rise to second, I want to commend the new Vice-Chairperson of the Standing Committee on Trade, Industrialization and Tourism, Sen. Esther Okenyuri. She is doing a good job. She just landed the other day as the Vice-Chairperson. I was told that she was elected unopposed. The issue of East Africa Breweries Limited (EABL) is very critical. EABL is one of our trademarks. I remember when I was growing up, one of the products that EABL produces had a slogan “ baada ya kazi.” There was decency in the consumption of alcohol. At that time, the market had not been infiltrated by interesting organisations. EABL is one of the renowned companies in this country. It is synonymous with Kenya. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
},
{
"id": 1523684,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1523684/?format=api",
"text_counter": 183,
"type": "speech",
"speaker_name": "Sen. Cherarkey",
"speaker_title": "",
"speaker": {
"id": 13217,
"legal_name": "Cherarkey K Samson",
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"content": "There is a funny story, as I second and make a few comments, on this issue of shareholding and management of EABL and Guinness."
},
{
"id": 1523685,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1523685/?format=api",
"text_counter": 184,
"type": "scene",
"speaker_name": "",
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"speaker": null,
"content": "[The Deputy Speaker (Sen. Kathuri) left the Chair]"
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{
"id": 1523686,
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"speaker": null,
"content": "[The Temporary Speaker (Sen. Veronica Maina) in the Chair]"
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{
"id": 1523687,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1523687/?format=api",
"text_counter": 186,
"type": "speech",
"speaker_name": "Sen. Cherarkey",
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"speaker": {
"id": 13217,
"legal_name": "Cherarkey K Samson",
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"content": "Madam Temporary Speaker, so that you know, EABL is synonymous with Kenya. A preacher came from America and had dinner with a colleague who is also a pastor. After eating, he said he would want to wind it down with a Tusker. Everybody in the room was shocked because where they come from, issues of taking something light like a Tusker are not an issue. Compliance by CMA on these regulations within six months is the role of the Committee on Delegated Legislation. Therefore, it should come up through the CMA. On the regulations, we should be careful. As we implement all these issues in the establishment, including majority acquisition, we must have decency under the Companies Act. There is a process through the CMA and the Companies Act. Therefore, the acquisition must be done within the law because this is a public trading company. Therefore, the shareholders and Kenyans have a role to play. This is one of the companies that the Kenyan Government has shares through the National Treasury and Economic Planning. Madam Temporary Speaker, the issue of fraudulent acquisition of shares by Guinness should be looked into so that the acquisition can be done properly. We do want a situation where people are getting more than 50 per cent acquisition contrary to the Companies Act. This means they have the majority shareholding of that company. Shares should not be optional. Remember we had the Initial Public Offer (IPO). We should not intimidate employees or people who own EABL shares or any other company. Do you remember when Safaricom made public sales of the shares through the IPO? It should have been within the freedom and the will of the people. We want EABL to be functional by the law, so that they produce more decent and safe drinks. What has happened now is that the alcoholic drinks market has been infiltrated. In Nandi County and across the country, there is proliferation of illicit brews, which are destroying the lives of many young people. It is affecting their health and making them sterile. They can neither give birth nor procreate. The role of the man is to protect, promote and procreate. The future of this country is bleak, when you have young men who are shooting blanks. They cannot procreate because the illicit brew that is being sold does not meet acceptable standards. This is why we are questioning this matter. I thank the Committee and the CMA for their recommendations. Shareholding and sale of shares should be done above board. We want EABL to produce more affordable drinks, even for the people who do not have money. There are reasons why people consume chang’aa and other illicit brews. For example, in Nandi County, people are drinking illicit brews, which are destroying their health. If you meet these people, The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
},
{
"id": 1523688,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1523688/?format=api",
"text_counter": 187,
"type": "speech",
"speaker_name": "Sen. Cherarkey",
"speaker_title": "",
"speaker": {
"id": 13217,
"legal_name": "Cherarkey K Samson",
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"content": "they have grown fat. It is not because they have eaten food, but because of the alcohol poison that is being sold in this country. Murang’a County, where you, Madam Temporary Speaker and Sen. Joe Nyutu come from, has also become a victim of this vice. I want to advise him. As he talks about the ills and criticizes the Government on how the country should be run, he should also be pushing for safe and clean alcoholic drinks within Murang’a and across the country. We do not need to have double standards. I am happy that he is talking about how the SHA and the country should run. However, he should not forget that many young people in Murang’a and across the country are suffering because of consuming illicit brews that do not meet acceptable safety standards. We want EABL to be run within the law and regulations. I do not want to say cheap products, but they should produce affordable drinks that do not affect people’s health. On matters of acquisition, I think the CMA should be in place. I am disappointed because all these organisations, including CMA, the Competition Authority of Kenya (CAK) and the Confederation of Protection of Consumers (COFEC) have been given powers. However, we have left the Competition Authority, protection of shares and running of our companies to the big fish to take advantage of the situation. Locally, EABL has employed over 6,000 Kenyans, including employees and distributors. I have seen the proprietor who is also the Deputy Majority Leader and the Senator of Nakuru, here. She understands better the business of selling alcohol and matters of distribution. We want EABL to be run above board, but not also to kill upcoming industries. There is still a market that can be filled. These 6,000 employees also include distributors. I remember the yesteryear billionaires of this country were interestingly EABL distributors. Therefore, this 6,000 workforce must be protected at all costs through the law. We should ensure that we do not sell it to international companies. When you go to Tanzania, for example, when you want to set up a business, the Tanzanian Government will never allow you to have the majority shareholding. You understand because you are a senior counsel in this country. What is the Attorney General (AG) of the Republic of Kenya doing? Where are the company laws? We are very clear that no foreigner should own more than 50 per cent of a locally owned company. It is the law. How do you allow multinational companies to come and buy out companies similar to what is happening in Kericho? Can you believe that some of these tea estates and other estates such as Del Monte, the majority of shareholders are people who live in London, America or other countries? That is why we have problems in compensation and running of these companies. It is very sad. We might say Tanzania is weak economically, but they have a protectionist mechanism. Madam Temporary Speaker, with your indulgence under Standing Order No.1, this free liberal market, yaani Soko huru, is not very good. We should not allow this. I recommend that these two companies; Diageo Kenya and Guinness, which acquired publicly traded shares to be followed. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
},
{
"id": 1523689,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1523689/?format=api",
"text_counter": 188,
"type": "speech",
"speaker_name": "Sen. Cherarkey",
"speaker_title": "",
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"id": 13217,
"legal_name": "Cherarkey K Samson",
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"content": "I warn companies on this issue of insider trading, they must meet the regulations. The Capital Markets Authority (CMA) is the regulatory body. What are they doing? This is their job. Our business in the Senate is to pass the law. The implementers must do their job. I have told you the reason some of us are pushing to ensure that East Africa Breweries Limited (EABL) is run above board. Most of our young people are dying because the alcohol that is being sold in market does not meet the health standards, be it of consumption or even the functionality of the human body. I want to challenge the Committee on Trade, Industrialisation and Tourism, through the Vice Chair, let us also invite EABL. You should form an inquiry. I am told they are selling assets. They are also doing contractual farming. This is where they come to your farm and do contracting farming for you to produce barley, which is majorly used for processing alcohol. Consequently, on contract farming, we must be told what EABL is doing. I have met farmers who feel that they were contracted by EABL to do barley, but after some time, their contract has never been honoured. On the issue of distribution and asset sale, we are aware that EABL has sold a lot of assets, but this is a public-traded company. They should be accountable for how many assets there is, for instance, the Kenya Railways. I was here the other day on the issue of Kenya Railways. Kenya Railways is a public company, but the Managing Director (MD) and management of Kenya Railways are running it like a personal property. They are leasing the property of Kenya Railways in major towns. The only advantage of Kenya Railways is that they have a lot of land. Thus, these public-traded companies must be held accountable. Under the principle of company law, it can lead to a position where we are lifting the veil. As I wish the Party Leader of United Democratic Movement (UDM) Sen. (Cap.) Ali Roba and other Muslims all the best during this Holy month of Ramadan, we must lift the veil. This is a principle in law that you and I understand very well. Of course, our lecturer, the Senior Deputy Clerk (SDC) Gichangi, understands this; that we must lift the veil to know what this is. This is why we have destroyed the economy. The moment you do no lift the veil, you will never know the insider trading, corruption and bad governance within the companies. Sen. Mungatana will tell you corporate governance of running companies is a bigger challenge going into the future. Madam Temporary Speaker, on the issue of tax, the Kenya Revenue Authority (KRA) should be on high alert as we trade and as shares are being sold. The Members of the Committee on Finance and Budget are here and we are told from the Budget Policy Statement that the budget of Kenya is Kshs4.2 trillion. I am told KRA is projecting to collect almost Kshs3trillion in terms of taxes. The public debt is more than Kshs10.5 trillion and we are paying Kshs1 trillion or more. It means Kenya in the Financial Year 2025/2026 will have a budget deficit. Therefore, we cannot allow such companies to get away in terms of share trading without taxes being paid to KRA, so that we can have revenue. You can see the Government has a lot of pressure to develop the country. I want to thank His Excellency the President because on Thursday, we were launching Koitalel Samoei University in Nandi Hills Town. The reason it was delayed is because of lack of funding. We were looking towards constructing a University Called Koitalel Samoei University, who is one of our legends in Nandi and across the Kalenjin The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
},
{
"id": 1523690,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1523690/?format=api",
"text_counter": 189,
"type": "speech",
"speaker_name": "Sen. Cherarkey",
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"id": 13217,
"legal_name": "Cherarkey K Samson",
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"content": "Community. He was also a freedom fighter and we are building a new university in Nandi Hills Town, that will be used for many things. For example, in Nandi, we need many tarmac roads and in many other areas. Nonetheless, KRA must be on high alert to allow the companies to pay taxes in terms of transactions that we are talking about. I want to challenge the Committee on Trade, Industrialisation and Tourism to come up with these regulations and ensure that there is compliance through the capital markets, public offers, listing and disclosures. The companies must disclose. Therefore, EABL cannot run away from this trading. They must be held accountable. They must pay taxes and tell Kenyans what EABL is doing because it is a public company. The Government has shares and the public must be aware of its runnings. Madam Temporary Speaker, within these six months, they should ensure that there are measures to be taken. Therefore, I challenge the Capital Markets Authority to take charge and the Competition Authority of Kenya should ensure that there is fair competition and fair market practises within this sector and any other companies which might want to do trading in the country. It is a pleasure to second this Motion that came through the Petition by Mr. Nicholas Rono. I want to thank the membership of the Committee; the old and the new membership. I saw the former Chair and I would want to hear his thoughts because, largely, most of this work was done by the previous Committee on Trade and Industrialisation. With all those many remarks - I do not want to say in the tradition of Kenya, few remarks - I beg to second."
},
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"id": 1523691,
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"text_counter": 190,
"type": "speech",
"speaker_name": "Sen. Veronica Maina",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Thank you."
}
]
}