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"speaker_name": "Mr. Midiwo",
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"legal_name": "Washington Jakoyo Midiwo",
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"content": "Mr. Speaker, Sir, this Ministry must sort out the Safaricom IPO mess. Just two days ago, I was confronted by a group of people who told me that when the Safaricom shares were being floated, the Ministry went on record, particularly the Investments Secretary, and said that investors would be guaranteed a minimum of 2,000 shares. This translated to Kshs10,000. Many people in the villages across the country are being refunded their Kshs10,000 less Kshs500 because they got this money from the banks. Some people borrowed this money from the banks. They were not allotted any share. They are being refunded the full Kshs10,000 minus Kshs500. 1662 PARLIAMENTARY DEBATES July 8, 2008 Could the Assistant Minister undertake to go back to the Ministry, sit with the Investments Secretary and find out where the problem could have been? Kenyans were publicly guaranteed a minimum of 2,000 shares. This will enable the stock market to regain some confidence and the people will not feel cheated by the Government. We know that the Minister who was behind the Safaricom IPO is gone, but the responsibility is still on the Government to assure people of their investments."
}