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{
    "id": 1523677,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1523677/?format=api",
    "text_counter": 176,
    "type": "speech",
    "speaker_name": "Sen. Okenyuri",
    "speaker_title": "",
    "speaker": null,
    "content": "Thank you, Mr. Deputy Speaker, Sir. I beg to move the following Motion- THAT the Senate adopts the Report of the Standing Committee on Trade, Industrialization and Tourism on a Petition to the Senate regarding alleged fraudulent dealings at Diageo PLC, East African Breweries Limited, Kenya Breweries and UDV (Kenya) Limited, laid on the Table of the Senate on Thursday, 5th December, 2024. Now that I have moved the Motion, I want to give a background of this Petition. At a sitting held on 30th May, 2023, a Petition was reported by Sen. Wakili on behalf of the Petitioner, Mr. Rono Nicholas, from Bomet County, pursuant to Standing Order No. 236(2). Specifically, the petitioner was highlighting the following: (1) That there has been controversial majority acquisition of shares of East Africa Breweries Limited (EABL) by Guinness Public Limited Company (PLC) in 2000, which was strongly resisted by the people of the Republic of Kenya through Parliament. (2) The other concern was having knowledge of the dealings at Capital Markets Authority (CMA), the Kenya Revenue Authority (KRA), the National Treasury and EABL have not acted to correct or stop fraudulent activities of shareholding and acquisitions. (3) To deflect some of the backlash, Guinness PLC made a pledge to cede back most of the acquired shares to Kenyans in due course. (4) Recent acquisition of the extra 15 per cent in EABL is a fraud upon the people of Kenya as the shares are being acquired for an onward transfer to a new buyer at a much higher value for the benefit of shareholders and to the detriment of Kenyan shareholders who will be denied the benefit of the higher price that Diageo will get from onward sale shortly. (5) Employees of EABL have been bullied, coerced, threatened and otherwise intimidated to sell their share options to Diageo PLC, which is against the laws of Kenya. (6) There was an onward sale of Diageo interest in EABL as agreed with Heineken /Castle Group. Purchase of an additional 15 per cent shares is meant to ensure that Heineken /Castle Group has a controlling stake in EABL after the onward sale. (7) The Kenya Breweries Limited (KBL), which was locally owned, possessed massive real estate in Kenya that comprised staff houses and complexes, go-downs, warehouses, factories and other assets that had employed over 6,000 Kenyans. 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."
}