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{
    "id": 541830,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/541830/?format=api",
    "text_counter": 102,
    "type": "speech",
    "speaker_name": "Hon. Manje",
    "speaker_title": "",
    "speaker": {
        "id": 1669,
        "legal_name": "Joseph Wathigo Manje",
        "slug": "joseph-wathigo-manje"
    },
    "content": "Thank you, Hon. Speaker, for giving me the chance to continue. From the Report, the enterprise was not valued. It means the value they came up with was doubtful and we cannot say that, that is the actual price of the enterprise. If valuation was not done, how did they place the cost per share? It means this enterprise was sold at a price that is not correct. That enterprise is not there by itself. It was a creation by Kenyans who were taxed to make that enterprise the way it is. Therefore, it is not prudent to just release the enterprise to a few individuals. Hon. Speaker, you will find that Kenya Telekom is, to some extent, security related. When we privatize, we must know who are taking those enterprises because we might end up auctioning our country to outsiders. It is prudent that if we privatize those enterprises, they should go to Kenyans who are able to purchase them. They can purchase shares in those enterprises so that they remain Kenyan. But if they are taken away by people from outside the country, we might end up losing completely after all that period of time. In the Report, it was said that Kenyans lost about Kshs66 billion through share value of the enterprise when it was sold in that funny manner. So, it is surprising that the total assets of Telekom Kenya are not known. They were not taken care of before it was sold. If you sell an enterprise without knowing its worth, then most likely you are selling it at a price that is not correct. I want to take this opportunity to tell the policy makers that it is high time they came up with a register of assets of Kenya. Yesterday, you heard about the Integrity Centre. Maybe, there are other places that are being sold at the moment belonging to Kenyans. The Government should come up with a registry of assets so that we can remain relevant. It is a bit awkward when you sell about 51 per cent of shareholding to a private company and you are left with 49 per cent and yet, the Auditor-General (AG) cannot audit those enterprises properly. Those who are left are likely to take advantage of the Government part. We should come up with good legislation that will allow the AG to audit some of those enterprises even if the shareholding is less than 50 per cent. Lastly, when an enterprise is halfway owned by the Government and the appointee are from the private sector, they might take advantage of that one and fleece what the Government contributes. That is because it will remain being contributed by the taxpayers. Thank you."
}