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    "id": 276504,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/276504/?format=api",
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    "content": "called upon its shareholders to inject new money into the company. The Government of Kenya is a major shareholder, with 23 per cent shareholding. The only other strategic shareholder in the company is the KLM with a shareholding of 26 per cent. Mr. Speaker, Sir, the two strategic shareholders account for 49 per cent of the shareholding of the Kenya Airways. The two key shareholders have agreed that instead of our anchor airline, which is really the pride of Africa, going to the market to borrow money expensively, it is important for the shareholders to inject more capital into the company. That capital can only come in by way of extra shares being subscribed by shareholders. The two shareholders sat down and said, yes, we need to save our airline from extra interest rates. Let us put in the money. Therefore, the Kshs5 billion that they requested is really for the Government of Kenya to inject extra shareholding capital into the airline, so that it does not get diluted by other shareholdings coming in. This is because if the Government of Kenya does not increase its shares, the impact would be that its current shareholding of 23 per cent could well come down to something like 15 per cent. We really do not want the Government to lose its stake in such a strategic airline like the Kenya Airways. Mr. Speaker, Sir, besides that, in order for an airline to qualify to be a national fly carrier and enjoy the benefit of flying to all the destinations that it currently flies to--- Currently, Kenya Airways flies to over 90 per cent of the destinations within Africa. Kenya Airways is the only African airline on the Sky Team network enjoying lots of connectivity. With the extra investment that is coming in and the extra aircraft that it is going to buy, Kenya Airways could well be the best airline within Africa. However, that can only happen if the shareholding of the Government is sustained at over 51 per cent, which makes the Kenya Airways to qualify to be a national carrier. I believe that the House is fully briefed on these matters. The Committees are fully briefed. I just wanted to highlight the fact that the Kshs5 billion we are being called upon to provide is a commitment by the Government to sustain its shareholding in the Kenya Airways, so that it does not get diluted in order to sustain the status of the Kenya Airways as the national flag carrier for Kenyan and, indeed, for the region. Mr. Speaker, Sir, other than that, again, we have gone through the realignments of the figures and I really need to seek the support of the House to pass the Motion and unlock the door for us to bring on board the Supplementary Appropriation Bill, which will then ratify the spending and also unlock the extra payments that need to be made for all the other commitments that have been made, including on the matter of salary adjustments, the issue of medical cover for our civil servants and all the other issues that are awaiting the passage of this Motion by this House for those expenditures to take place. With those words, I beg to second."
}