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{
    "id": 494180,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/494180/?format=api",
    "text_counter": 9,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Laboso",
    "speaker_title": "",
    "speaker": {
        "id": 63,
        "legal_name": "Joyce Cherono Laboso",
        "slug": "joyce-laboso"
    },
    "content": "Hon. Speaker, I want to present a public Petition by milk farmers’ representatives on the eminent privatisation of the New Kenya Co-operative Creameries. The Petition reads as follows:- “I, the undersigned, on behalf of milk farmers’ representatives from across the country, draw the attention of the House to the following:- (i) aware that the Kenya Co-operative Creameries (KCC) was established in 1925 to enable milk farmers to market their produce and grow their savings; (ii) aware that the majority stakes in the original KCC is held by small-scale farmers and estimated at a net worth of Kshs5 billion; (iii) noting that a conspiracy of management allegedly plunged the giant farmer’s co-operative society into insolvency and thereafter receivership in the late 1990s; (iv) noting that the KCC was sold under unclear circumstances at a throw- away price to private entrepreneurs who re-named it KCC 2000 before the former National Rainbow Coalition (NARC) Government reclaimed it and re-branded it to New KCC on 25th June, 2003; (v) noting that the change in ownership of the original KCC to KCC 200 and later to New KCC did not conclusively determine, address and protect the rights and shareholding of farmers in the society; (vi) aware that the Government is at an advanced stage of privatising the New KCC through an initial public offer of shares at the Nairobi Securities Exchange (NSE) in a formula that allocates an insignificant 31 per cent of shareholding to farmers, who are the majority shareholders, and 10 per cent to the Government; (vii) aware that the planned privatisation of New KCC proceeds without safeguarding the rights of farmers, who risk permanent loss of their hard-earned stakes worth billions of shillings by ceding 59 per cent shareholding to private investors; (viii) noting that, that sale will be tantamount to the Government’s abdication of its duty to protect farmers’ rights to property as provided for under Article 40(3) of the Constitution; and, The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}