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{
    "id": 3574,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/3574/?format=api",
    "text_counter": 419,
    "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, according to the valuation done by Tysons Limited, the professional firm engaged to value the assets, the open market value of the assets as at 31st March, 2011 was Kshs2,220,522,800. I wish to inform hon. Members that De La Rue is one of the leading printers of currency worldwide. The organization, therefore, has the capacity to print any currency according to specific technical specifications agreed with its customers. From a Government’s perspective, although profitability is an important consideration in investment decisions, the decision by the Government to invest in a currency printing business was a strategic decision based on the need for a country to be in control of the printing of its currency. As indicated when I appeared before this House on 2nd November, 2011, many countries have joint ventures with printing firms to secure sustainable currency printing services. Examples where De La Rue has joint ventures with other countries in bank note production includes amongst others, De La Rue, Sri Lanka, Valora in Portugal, there is a Nigerian Security Printing and Minting PLC, Orell Fussli Security Print Limited in Switzerland and Portals in the United Kingdom. The Government, therefore, regards this as a strategic investment. Currency is an important medium of exchange and has major implications on the performance of the economy. In fact, internationally, currency printing and management is exclusively the responsibility of the Government. In most countries, the printing is 100 per cent owned by the Government as it is the case with the United States of America and Australia amongst others."
}