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{
    "id": 193818,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/193818/?format=api",
    "text_counter": 237,
    "type": "speech",
    "speaker_name": "Dr. Khalwale",
    "speaker_title": "",
    "speaker": {
        "id": 170,
        "legal_name": "Bonny Khalwale",
        "slug": "bonny-khalwale"
    },
    "content": "Mr. Deputy Speaker, Sir, in both the prospectus and what the Assistant Minister is calling the addendum, there was a deliberate effort not to inform the investing public of one risk. That risk was that there was a debt of Kshs68.8 billion that investors were actually buying into. Could the Assistant Minister tell us why they misled the public? The public got into this IPO without having been told that there was this risk. Secondly, Mr. Deputy Speaker, Sir, when the Government wanted to sell Safaricom, it wanted to sell 40 per cent of its shareholding. The refusal by the Government to sell more than 40 per cent of the shareholding discouraged potential investors, some of them more credible than the people who eventually won the bid, for example, a USA corporation called AT&T which was discouraged from this deal. Mr. Deputy Speaker, Sir, could the Assistant Minister tell us when the Government eventually changed its mind to sell more than 40 per cent of the shareholding and, therefore, 51 per cent; what informed that decision and what was the legal procedure that was used to make sure that a decision was reached without letting that decision go through Parliament?"
}