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{
    "id": 64384,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/64384/?format=api",
    "text_counter": 137,
    "type": "speech",
    "speaker_name": "Mr. C. Kilonzo",
    "speaker_title": "",
    "speaker": {
        "id": 46,
        "legal_name": "Charles Mutavi Kilonzo",
        "slug": "charles-kilonzo"
    },
    "content": "Mr. Deputy Speaker, Sir, just to refresh your memory, when there was a censure Motion on the then Minister for Finance, hon. Khalwale had the following to say from the Floor of this House:- “To address Kenyans who were conned into buying shares in the Initial Public Offer (IPO) of Safaricom, the then Minister must go.” Mr. Deputy Speaker, Sir, those words have come to be true. Safaricom is over 50 per cent Kenyan. It is a Kenyan multi-national corporation with over 750,000 local shareholding and 35 per cent Government shareholding. The Permanent Secretary (PS) in the same Ministry had the following to say on the mobile phone tariff wars:- “The Government and millions of Kenyans have heavily invested in the communication sector, and any losses in the investment could have a ripple effect on the economy. I am not opposed to reduction in prices but they have to make economic sense. The competition has to take care of re-investment in the sector as well as shareholding.” So, my first clarification is to ask whether the Government is conning its own people by coming up with policies which are going to ensure that within one or two years the value of Safaricom share is going to go as low as Kshs2. The other clarification is on the issue of employment. The Prime Minister has cleverly avoided answering part (c) of the Question. The competitors have their call centres in their home countries. It is a requirement in those countries that a particular percentage of the operator must be owned locally, yet that is no longer a requirement here. If we allow all these telephone operators to have call centres back at home, is the Government keeping its promise of creating employment for the youth?"
}