Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1523697,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1523697/?format=api",
    "text_counter": 196,
    "type": "speech",
    "speaker_name": "Sen. Mungatana, MGH",
    "speaker_title": "",
    "speaker": null,
    "content": "you do not want to do the work or are in compromised positions. It is a shame. In real terms, we are talking about 6,000 people that have been sent home, when they should not. If someone had sat down to say, \"Wait a minute, what does the transfer of these shares mean?\" The worst thing is that they are transferring these shares to a company that is not Kenyan - an expatriate company. The brewery company that is taking over all these shares is a South African company. We are not saying we cannot trade, but you cannot acquire majority shares, then you start making decisions that are killing the economy of Kenya; decisions that are having such a negative impact on our people and the economy of this country. The Capital Markets Authority (CMA) is just there, seated, proceeding to approve. The Competition Authority of Kenya is just there, seated, not taking action against the abuse of the dominant position. I pray that this Report will be implemented in the letter and that action will be taken. I pray that in furtherance of this Report, the Cabinet Secretary, the Principal Secretary, and those in the Ministry of Trade, Investment and Industrialisation will be required to take action to protect our people. You know, someone is just sitting, looking at their company. They have seen they are making money, their sales are doing well, and then they see they are being told to go home. This is just terrible. The accountant and the small-time management of these companies cannot explain why they are making so much money, and then they are told to go home because the company is being closed. We need to take these authorities, who have been given the mandate to help create jobs and manage the economy, to task. These people must be punished. This Report goes on to say that the Competition Authority of Kenya should enforce the pecuniary penalty outlined under Section 24(3) of the Competition Act 2010 of Kenya. How can it be that the Senate must sit to tell you what punishment you must execute against those who are creating trouble within the market in Kenya? This is terrible. I was putting this thing in perspective so that people could see that these guys were sleeping on their jobs, and the Cabinet Secretary should wake up and bring disciplinary action against the board of the Competition Authority and the Capital Markets Authority of Kenya. These people are not protecting Kenyans; they are just called the Capital Markets Authority of Kenya, and they are not protecting Kenya. Competition Authority of Kenya and you are not protecting Kenyans! People are suffering here. Those small people cannot understand that it is the approvals of the transfer of shares and things they cannot even fathom. They only know that they are being paid Kshs50,000, Kshs30,000 or Kshs100,000 and taking care of their families. Madam Temporary Speaker, let us be patriotic about our country, grow this economy, and not put people in charge of the Capital Markets Authority who are killing economies. Why should you approve the selling of shares just to kill people's jobs? Why can you not be conscientious enough to visit and see what it means? Why can you not engage in public participation so that people can see that you are listening to them and that you hear them from the ground and not just the owners of the company? After all, the 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."
}