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"id": 316193,
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"speaker_name": "Dr. Khalwale",
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"legal_name": "Bonny Khalwale",
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"content": "Mr. Temporary Deputy Speaker, Sir, I thank you for that indulgence. I truly want to appeal to fellow hon. Members that I started deliberately by giving you the names of the witnesses, so that you can realise that what I am doing this afternoon is merely reported speech. It is not my evidence. I am simply appearing before the House with these facts, so that you can give me an opportunity to persuade you to agree with us on our findings. Mr. Temporary Deputy Speaker, Sir, before I was briefly interrupted, I was going on with the fourth recommendation, which was requesting the President to appoint a tribunal, pursuant to the provisions of Sections 14(2)(f) and 14(3) of the Central Bank of Kenya Act, Cap.491. In the meantime, the Committee requests that Prof. Njuguna Ndung’u must step aside from office with immediate effect. The fifth recommendation is that the Committee concurs with the Cabinet decision for the Government of Kenya to enter into a joint venture with De La Rue company with respect to the Ruaraka, Nairobi, plant; but notes several anomalies relating to the Draft Joint Venture Agreement, which I have attached. For that reason, the joint venture should only proceed upon fulfilment of certain conditions. Mr. Temporary Deputy Speaker, Sir, we recommend that the joint venture should not tie the Central Bank of Kenya (CBK) to signing a ten year currency printing contract with De La Rue as this contravenes Government procurement procedures and regulations since the CBK cannot be guaranteed a fair market price for currency printing, unless there is a competitive procurement process. We further suggest that the joint venture must address the issue of the capacity of the plant, given that the machines and technology in use at the Ruaraka, Nairobi, plant lack the capacity to effectively and efficiently print huge volumes of bank notes with enhanced security features. Besides the attachments we have put in this Report to explain this fact; that is why De La Rue preferred the controversial tender of 1.7 billion pieces of bank notes for the CBK to be printed in Malta, and not in Nairobi, at their Ruaraka plant. Mr. Temporary Deputy Speaker, Sir, besides, the Government must also address the complex structure of De La Rue. There is a complex web of companies all claiming to be subsidiaries of De La Rue International Limited, with the Nairobi one changing name from time to time. The Committee has fears, and we beg the House to share those fears with us. Our fears are that the multiple change of name by the Ruaraka company may have been intended by the company to camouflage itself against liabilities in future, should creditors lay claim against the assets of the company to be borne out of the joint venture, thereby putting the Government of Kenya investment and taxpayers’ money at great risk. Mr. Temporary Deputy Speaker, Sir, we also put the condition that the Government should negotiate and enter into a joint venture with De La Rue International Limited in the United Kingdom, with respect to the Ruaraka, Nairobi, plant, and not its subsidiaries."
}