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{
    "id": 1433665,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1433665/?format=api",
    "text_counter": 32,
    "type": "speech",
    "speaker_name": "Gatanga, UDA",
    "speaker_title": "Hon. Wakili Edward Muriu",
    "speaker": null,
    "content": "Departmental Committee on Finance and National Planning regarding the inordinate delay by Kenya in ratifying the agreement for the establishment of the Africa Finance Corporation (AFC). AFC was established on 28th May 2007 as a multilateral development finance institution dedicated to promoting private sector-led infrastructural investment across the African continent. Its mission is to address Africa's infrastructure development needs and foster sustainable economic growth through equity project development, financial advisory, and treasury management services. The AFC operates under the agreement for its establishment dated 28th May 2007. Forty three Africa's sovereign States signed an instrument of accession and acceptance of membership to the AFC as a supranational body. The Republic of Kenya, through the National Treasury, signed the instrument of adherence to the terms of the AFC on 7th June 2017. Since then, the National Treasury has yet to submit the instruments for the treaty establishing the AFC to the National Assembly for ratification. Hon. Deputy Speaker, it is against this background that I request a Statement from the Chairperson of the Departmental Committee on Finance and National Planning on the following: 1. What milestones have been made in effecting the ratification of the treaty for the establishment of the AFC in Kenya since the signing of the instrument of adherence on 7th June 2017? 2. What has caused the inordinate delay by the National Treasury in submitting the treaty to the National Assembly for ratification? 3. When does the Ministry intend to submit the treaty to the National Assembly? Thank you, Hon. Deputy Speaker."
}