Entry Instance

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

{
    "id": 183392,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/183392/?format=api",
    "text_counter": 158,
    "type": "speech",
    "speaker_name": "Mr. K. Kilonzo",
    "speaker_title": "",
    "speaker": {
        "id": 172,
        "legal_name": "Julius Kiema Kilonzo",
        "slug": "kiema-kilonzo"
    },
    "content": "Mr. Speaker, Sir, I want to begin by thanking the Minister for the intervention that he has made. Kshs2.3 billion, being money for the workers, is a lot of money. The workers take their money there so that the Government, and particularly the National Social October 21, 2008 PARLIAMENTARY DEBATES 2839 Security Fund (NSSF), can take care of it. The House may want to know that Mr. Murungu, who is the Director of Discount Securities Limited. was also the Director of Pan African Bank, which was the genesis of the Goldenberg scandal. The Capital Markets Authority (CMA) did warn the NSSF that Discount Securities Limited was experiencing some financial difficulties and, therefore, it should not put any money in it, but it went ahead and did that. We want the Minister to tell us whether he is aware that CMA advised the NSSF not to invest in Discount Securities Limited, and whether that is the reason why he has taken those measures. Mr. Speaker, Sir, we would also want the Minister to clarify who are Discount Securities Limited to open eight nominees and not one. That instruction is said to have come from a higher office. If the Minister wants us to back his action, he should tell us whether it came from his office or from an office higher than his, because that is not a very well kept secret. I want to conclude by urging the Minister to confirm to this House whether the CMA is really sincere in the work that it is doing, because it did give a go ahead to Safaricom Limited where Kenyans lost a lot money in shares. It also gave a go ahead to East African Cables Limited Company, where a lot of money was lost in terms of shares. Now it has a go ahead to the Co- operative Bank which owes Kshs10 billion, and is out to collect Kshs10 billion through its Initial Public Offer (IPO); does he not think it is time he checked---"
}