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{
    "id": 698010,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/698010/?format=api",
    "text_counter": 88,
    "type": "speech",
    "speaker_name": "Hon. F.K. Wanyonyi",
    "speaker_title": "",
    "speaker": {
        "id": 2065,
        "legal_name": "Ferdinard Kevin Wanyonyi",
        "slug": "ferdinard-kevin-wanyonyi"
    },
    "content": "I have been to countries in the Far East, including Malaysia, Japan and South Korea. Their structures for setting up companies are quite impressive. The people who are appointed directors know their roles. In our case, directors are just appointed haphazardly. Members of boards of management in schools are normally picked because they are from the neighbourhood or were classmates of the head-teachers. We end up with mismanagement and misappropriation of funds. A company has a strategic plan that runs for, at least, three to five years. The plan has set achievable targets. If a director does not understand the strategic plan of a company, the company is more likely to fail. The proposed institution will give a head-start to some of the ailing companies. Recently, the Eveready Company moved from Nakuru to Nairobi. The directors of that company should be able to tell us why it was moved. There are cases where directors take part in deliberations on the company targets. The minutes are prepared so that they can go through them. If they do not understand the resolutions that are passed, then those companies will definitely fail. Directors should sign the resolutions and understand the way forward. For State corporations and parastatals, we have performance contracts. I was among the first CEOs to partake performance contracting. The performance contract is not being implemented the way it was when we were CEOs. We used to set targets. At the end of the financial year, one used to check whether the targets have been achieved. If not, one had to come up with reasons as to why he did not meet those targets. That became the basis for improvement in the following year. Directors should know where they are in order for them to move forward. The proposed institution will solve that problem. Some directors are given minutes and targets, but they do not understand them. Even with performance contracting in State corporations, parastatals and ministries, we were lost at some point. As we move to achieve industrialisation, the Government should revamp the Efficiency Monitoring Unit (EMU), which should be within the presidency. Are they monitoring performance? People in that unit should be able to understand the objectives of each public company and State corporation. Therefore, it is important for us to have those institutions so that we can guide the directors on how best the companies, parastatals or State corporations are run in this country. We have cases where directors dictate to the CEO on what to do. That is why we have problems in most institutions. When I was the CEO of one of the biggest parastatals in South Nyanza – I do not want to mention it for obvious reasons – we had directors---"
}