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{
    "id": 269463,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/269463/?format=api",
    "text_counter": 274,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "The Assistant Minister for Finance",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "Mr. Speaker, Sir, on hon. Shakeel’s question, he should realise that the Government was a major shareholder in the Kenya Power and Lighting Company (KPLC) and KPLC’s position was actually almost driving it into insolvency, and it was the responsibility of the Government to try to salvage KPLC from that position of near insolvency. That was why this burden on KPLC of redeemable shares which were being paid for at an interest rate of 7.85 per cent per annum was transferred to redeemable preference shares in order to improve the balance sheet of the KPLC for it to be afloat again."
}