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{
    "id": 1511484,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1511484/?format=api",
    "text_counter": 560,
    "type": "speech",
    "speaker_name": "Nambale, Independent",
    "speaker_title": "Hon. Geoffrey Mulanya",
    "speaker": null,
    "content": "youth problem. There are so many youths who are unemployed, while investors who are supposed to set up industries or factories to employ them are shutting down to go invest elsewhere. As a Member of the Departmental Committee on Energy, I know we went through a lot of things to come up with this Report. There were shocking revelations on what is happening in this country. We have cases of civil servants who are seated in the comfort of their sitting rooms, but they are making money. They are milking fellow Kenyans and investing for their own generations, while killing the generations of fellow Kenyans who are now paying for their good lifestyle. I have looked at Recommendation 9 in particular, and it is weighty. I request this House to adopt this Report so that these individuals who were given positions by Kenyans to serve them can be held accountable. Instead of serving, they are now milking Kenyans by using dubious companies to establish companies outside the jurisdiction of our country. They call themselves investors, yet they are fellow Kenyans who are investing in the name of foreigners. Instead of supporting the economy, they are killing it. I also looked at Recommendation 9(a) on the services offered by the Business Registration Services. It is high time we looked at this particular Act. In this inquiry, you find that a company is registered in Mauritius. When you follow up in Mauritius, you find that it is registered under another company in London. It, therefore, becomes difficult to unearth the real beneficial owners of these companies. However, when we did further due diligence on the same, it came out clearly that they are fellow Kenyans taking Kenyans in circles through the Business Registration Services Act. They exploit this particular loophole to benefit. I urge that as we adopt this Report, we also review the Companies Act and the Business Registration Services Act to ensure they are simplified. We should not allow a company to disguise itself as a foreign company yet it is a local company. We should introduce beneficial ownership laws to simplify registration of business services so that we can know X, Y and Z are the real directors of a certain company. I support this Report and congratulate the Hon. Chairman for the good work that his Committee did. Thank you, Hon. Temporary Speaker."
}