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{
    "id": 262469,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/262469/?format=api",
    "text_counter": 215,
    "type": "speech",
    "speaker_name": "Mr. Githae",
    "speaker_title": "",
    "speaker": {
        "id": 159,
        "legal_name": "Robinson Njeru Githae",
        "slug": "robinson-githae"
    },
    "content": "Mr. Speaker, Sir, I repeat that the Kenya Government has not sold its Preference Shares. The shares are still owned by the sovereign Republic of Kenya. What have been going on are discussions by the Ministry of Energy with the Kenya Power and Lighting Company on how to increase funding to REA. The first proposal was that all the dividends received on the Preference Shares should be remitted to REA. That was the first option. However, because of the need to clean up the balance sheet of the Kenya Power and Lighting Company, this did not happen. So, instead, the Preference Shares were converted into Ordinary Shares. I repeat that the sale of the shares did not happen. The shares have not been sold. We received only Kshs123 billion from the rights issue."
}