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{
    "id": 3570,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/3570/?format=api",
    "text_counter": 415,
    "type": "speech",
    "speaker_name": "Mr. Kenyatta",
    "speaker_title": "The Deputy Prime Minister and Minister for Finance",
    "speaker": {
        "id": 168,
        "legal_name": "Uhuru Muigai Kenyatta",
        "slug": "uhuru-kenyatta"
    },
    "content": " Mr. Temporary Deputy Speaker, Sir, on the 10th of November the Member for Ikolomani, Dr. Bonnie Khalwale, sought a Ministerial Statement from the Prime Minister of Kenya in respect of the Government intentions to invest in the venture of printing of the Kenyan currency. In particular he sought clarification on the following:- (a) Who is the current printer of Kenyan currency? (b)What is the difference between:- (i)Thomas De La Rue AG (ii) De La Rue Kenya Limited (iii) De La Rue Currency and Security Print Limited; and (iv) Thomas De La Rue Kenya Limited? (c) Who is the leasee of LR.No.78784 in Nairobi? (d) Who is the vendor who is entering into a joint venture agreement with the Permanent Secretary, Treasury, on behalf of the Government of Kenya? (e)What is the value of assets that the Kenya Government is paying 5 million UK Pounds which is equivalent to Kshs700 million as 40 per cent equity in the venture? Mr. Temporary Deputy Speaker, Sir, I wish to respond to the hon. Member’s request on behalf of the Rt. Hon. Prime Minister by stating as follows:- (a)With regard to who is the current printer of the Kenyan currency, Kenyan currency is currently printed by De La Rue Currency and Security Print Limited, located at the Ruaraka Plant. (b)According to information available to the Ministry, De La Rue PLC of the United Kingdom (UK) is a company incorporated in England and Wales. It is a public company listed on the London Stock Exchange. Thomas De La Rue AG is a company incorporated in Switzerland and is a wholly owned subsidiary of De La Rue PLC of the UK. De La Rue Currency and Security Print Limited is a company incorporated in Kenya in 1992 by De La Rue PLC of the UK to operate currency and security printing business in Kenya. Following the restructuring of the De La Rue group, De La Rue Currency and Security Print Limited is now 100 per cent owned subsidiary of Thomas De La Rue AG which is in turn 100 per cent owned subsidiary of the De La Rue PLC of the UK. Thomas De La Rue (Kenya) is a company incorporated in Kenya and was the initial company in which the operating of De La Rue Currency and Print Limited were to be hived into. However, another company De La Rue (Kenya) EPZ Limited was incorporated by De La Rue PLC of UK as a transferee of the hived assets of De La Rue Currency and Print Limited. De La Rue (Kenya) EPZ Limited is a company incorporated by De La Rue PLC of UK to take over the hived operating assets of De La Rue Currency and Print Limited. This is the company in which the Government of Kenya would acquire a 40 per cent stake. Who is the leasee of LR.No.78784 in Nairobi? The land is owned by the Central Bank of Kenya and leased to De La Rue Currency and Security Print Limited. This is the land situated at Ruaraka Nairobi on which the Currency and Security Print Factory is located. The lease is one of the assets that will be hived out to De La Rue (Kenya), EPZ Limited. However, the land will continue to be owned by the Central Bank. Who is the vendor who is entering into joint venture with the Permanent Secretary, Treasury, on behalf of the Government of Kenya? The vendor is Thomas De La Rue AG, which company owns 100 per cent ordinary shares of De La Rue Currency and Security Print Limited. What is the value of assets that the Government of Kenya is paying? This is 5 million UK Pounds, equivalent to Kshs700 million as 40 per cent equity in the venture."
}