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{
    "id": 699226,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/699226/?format=api",
    "text_counter": 159,
    "type": "speech",
    "speaker_name": "Hon. Oyoo",
    "speaker_title": "",
    "speaker": {
        "id": 2408,
        "legal_name": "James Onyango Oyoo",
        "slug": "james-onyango-oyoo"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker. I also wish to add my voice to this Bill. I believe that it is a good Bill despite some few limitations in it. I know it will add value to our country in terms of boosting our economy. What I would like to have entrenched here is enough public participation so that there is full disclosure. There should be enough time for interested members of the public to contribute adequately. Since this is going to involve a lot of money and interest, the authorities should ensure that they apply very competent considerations. I know that we are led by people who are also businessmen. Many times, it happens that when there is an opportunity to appoint people into authorities like this one, they put their business interests first and so, they appoint people who are likely to fast-track their business interests. That is unethical and should not be allowed to happen. I say this because if we had competent people and full disclosures were done, then that would mitigate illicit factors like what the country is confronted with in view of the problems that Kenya Airways is facing. If proper disclosure was done before, we could know in the signed Memorandum of Understanding (MoU) that KLM is owned by Air France which, in turn, is owned by Lafarge. Lafarge brought its own employees to take charge of our coveted airline. Many people would have known what was happening and would have argued out against such a merger. That is why I insist that for the sake of future transactions, this Bill should have a provision that will ensure that full disclosures are made and that there is good enough time for public participation. If that is done, Kenyans who are interested and care for their little treasures will have enough time to read about the full involvements of the parties interested in mergers. That way, they will be in a position to make proper decisions before conclusions are made. There should be mechanisms for checking cheating. That is because many under-estimate or under-state their interests because of lack of proper legislation. You will find very flickering advertisements about institutions which do not work. We have seen adverts that are meant to cheat customers, for example, an advert claiming that one Asprol tablet can treat 20 diseases. I do not think that is ethical. Those are things that we will have the Competition Authority checking. We also need full-proof mechanisms for checking whatever is happening. Authorities must create opportunities or facilities for occasionally checking what is happening in the market in-between the times of the intended merger and when the ultimate acquisitions are made. This is a good Bill and the intention is good. However, as usual, in Kenya, we have two problems. The first one is that people get into ventures in a hurry without checking and verifying facts. The second one is that once a project has been started, Kenyans do not create mechanisms for cross-checking, oversight and maintenance. I support. 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."
}