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{
    "id": 696384,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/696384/?format=api",
    "text_counter": 175,
    "type": "speech",
    "speaker_name": "Hon. Wakhungu",
    "speaker_title": "",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "Thank you, Hon. Speaker. I rise to raise my concern about KQ which is a brand name associated with Kenya. We call it the ‘Pride of Africa’. When it comes to pricing, this company has been robbing Kenyans. Last night, on my way from Paris here, I used KQ. The services are terrible and their pricing is extremely high. In terms of shareholding, I want to refer my colleagues that in accounting there is a theory called “agency theory”. In agency theory, the responsibility of running an organisation is vested in the management. For any critical decision to go through, the board has to approve. This is the highest time we looked at the management of the KQ, and Titus Naikuni cannot run away from this. Of course, Ngunze cannot run away from this too. From what Hon. Duale has indicated, it is, indeed, a big conflict of interest if at all the KQ is owned by Lafarge. Lafarge is one of the successful multinationals. If you look at their management, people’s expertise and experience, most of the time, they have been making abnormal profits. So, when it comes to KQ, you ask the question: Why are we seeing this? There is no way you can have an MD who at the same time sits on the board. In this context, if Naikuni was the CEO of KQ, and at the same time sat on the Board of Bamburi Cement Limited, which is owned by Lafarge, there was conflict of interest. It is important we look at the procurement aspects. My friend has mentioned the AAL. We do not want to bring politics into this. If at all Raila Amolo Odinga is a shareholder, he is not involved in the running of the business on day to day basis. I want my friend to listen to me because I am speaking as an expert. Listen to me so that you get the difference. When you are a shareholder in an organisation, you have nothing to do with the running of that business. I am a shareholder of Safaricom. We have two types of investors; long-term and short-term. If I am investing in terms of short-term, maybe I want to get some gain but, if I am looking for long-term investment, I want to look at dividends. You can only get dividends if an organisation is making profits. So, in this context, whether Raila Amolo Odinga owns assets or not, it is not an issue you can connect politics to. It is because it is the CEO and the management. Anybody can buy shares. It has nothing to do with Raila Amolo Odinga. That is why I do not want us to politicise this issue. We want to look at this matter critically. 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."
}