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{
    "id": 472018,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/472018/?format=api",
    "text_counter": 397,
    "type": "speech",
    "speaker_name": "Hon. Waweru",
    "speaker_title": "",
    "speaker": {
        "id": 1378,
        "legal_name": "Dennis Kariuki Waweru",
        "slug": "dennis-kariuki-waweru"
    },
    "content": "important for us to put it in law so that we can see a comprehensive community development plan for these kinds of companies that are investing in this. There is also an element of environmental assessment that is a condition for the licensing of these companies. It is important for us to protect our environment from degradation and have a clear plan on how to manage it. The other important aspect is that of having the local component in the production and any support services during the undertaking of these investments. I heard a Member talk about cattle in northern Kenya where most of these activities are being held. It is important that we have a local component in these institutions. Being a capital market practitioner, I would advise that it is important that we broaden the ownership of some of these ventures. It is about time we shared these kinds of resources and have wide ownership. That way, the benefit that accrues and the profits that are made in the companies in Kenya can be enjoyed and owned by Kenyans. If, for example, we were to build a company of the level of Safaricom with, say, capital of Kshs500 billion you can imagine what would happen if no Kenyan shares in the ownership of such a company. The Government now owns in excess of Kshs200 billion in some companies and also Members here have some stake in those institutions. It is important that we put a condition that any company of that level must have wide ownership, say, 20 per cent in the stock market so that anybody from Kenya has the opportunity to enjoy the benefits and successes of those companies. I support."
}