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"content": "the IFC actually poured accolades onto the initiative and promised that it would give managerial and expertise advice as the project was being rolled out. However when we looked at the document and minutes of the Board, we were surprised, notwithstanding its original accolades and support for the Project Mawingu plan, IFC did not come out as having given adequate managerial skills or advice and the airline was heading towards failure with the Mawingu Project. So, we wanted to have a discussion with the IFC to find out what was happening. Unfortunately, we tried twice and failed to get positive reaction from the IFC. Mr. Temporary Speaker, Sir, indeed, let me quote from one of the letters that we got from the IFC on our second attempt to invite them on 16th October, 2015. Our Clerk was very good in writing this letter detailing to the IFC to come and give us information. The only thing that the IFC was willing to give us was what was called the Environmental and Social Review Summary of the IFC Investment in Kenya Airways Limited, a document which was available in the public domain and we did not need them to give us. They said in their letter - this is very important for this House especially given that as I said earlier, constitutionally, this House has the responsibility of oversighting public finances wherever they are invested in any entity in this nation – I quote from the IFC:- “In accordance with the World Bank Group (WBG) policies on providing information to legislative bodies, we must respectfully inform you that it is not possible for us to share any confidential information on these investments such as the ones requested in your letter.” Our letter to the IFC had requested the following:- One, to tell us, as an investor and advisor to Kenya Airways during the initiation of Project Mawingu, whether the IFC, as a major investor, was satisfied with the qualifications of the chief officers of the company. This is because if you are buying a 9 per cent share in a company, it must be a company which you have confidence in. If you do, you must have confidence, first and foremost, in the management of the company. Secondly, we asked them whether when the Mawingu plan was being initiated, they as investors and advisors to Kenya Airways were satisfied that sensitivity tests and risk analysis had been done that showed that this plan was viable. Thirdly, we asked them whether investment in the company as the IFC would in any way compromise their judgement in advising the company in this new initiative. This is because if you are investing, obviously, you are also interested. To what extent will you be objective in advice? Mr. Temporary Speaker, Sir, finally, we asked them about their optimism in Kenya Airways. This is because there was a difference between their optimism in Kenya Airways based on the fact that they could see Kenya Airways doubling their labour force from 4,000 to 8,000 at a time that Kenya Airways itself was retrenching. So, we asked, why is there this contradiction between your optimism and the fact that the airline is retrenching? We wanted an explanation but they turned us down, saying that there is something called “access to information” policy. The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}