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{
    "id": 560109,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/560109/?format=api",
    "text_counter": 510,
    "type": "speech",
    "speaker_name": "Hon. Keynan",
    "speaker_title": "",
    "speaker": {
        "id": 41,
        "legal_name": "Adan Wehliye Keynan",
        "slug": "adan-keynan"
    },
    "content": "The other bit that we have noted which the Auditor-General has also raised is the issue of investments in non-performing organizations. Some institutions with sound financial bases have used this trick and have invested in weak private institutions. If you look at the history of almost all the collapsed banks, you will realise that there are billions of shillings belonging to taxpayers that have been invested in those organisations, not because of the desire to generate value for money or profit for them, but because of the desire to serve the interest of the cartels and those who have been at the helm. This is why, today, if you ask for the books of Euro Bank, Trust Bank or any of the banks that have wound up, you will realise that your money, investments and your kid’s investments are there. It will be very difficult to recover such lost monies because those who were tasked with those responsibilities did not apply prudence, seek the guidance of the Treasury and follow the law. In the process, we have lost billions of shillings through such investments. 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."
}