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{
    "id": 1523687,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1523687/?format=api",
    "text_counter": 186,
    "type": "speech",
    "speaker_name": "Sen. Cherarkey",
    "speaker_title": "",
    "speaker": {
        "id": 13217,
        "legal_name": "Cherarkey K Samson",
        "slug": "cherarkey-k-samson"
    },
    "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."
}