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{
    "id": 3579,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/3579/?format=api",
    "text_counter": 424,
    "type": "speech",
    "speaker_name": "Dr. Khalwale",
    "speaker_title": "",
    "speaker": {
        "id": 170,
        "legal_name": "Bonny Khalwale",
        "slug": "bonny-khalwale"
    },
    "content": "Yes, Mr. Temporary Deputy Speaker. The second clarification is that the Government is buying phantom shares. The company that owns the shares is called “De La Rue Currency and Security Limited”. However, the agreement that the Government has entered into is not with this company but with a company called “Thomas De La Rue AG”, which by the way is registered in Switzerland. In fact, it was registered on Ruud De Moor 11 CH/1700 Switzerland. This company has no relationship with the securities company. I am saying it. Why the House should allow me to deliberate this before I say the second point is that there is a history of this contract. This contract was first envisaged by the KANU Government. However, when the NARC Government took over in 2003, hon. Mwiraria discarded that agreement and floated an international tender which was won by De La Rue at USD51 million. As soon as hon. Mwiraria left office, hon. Kimunya, who was his successor, discarded the tender that had been won by De La Rue at US$51 million and reintroduced the old one which, by the way, was more expensive at US$130 million. De La Rue, to get that tender, ended up paying a deposit of US$25 million. Up to now, we do not know whether the US$25 million has been refunded. If it has been refunded, I am asking that the Deputy Prime Minister and Minister for Finance clarifies in which account the refund was made."
}