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{
    "id": 721756,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/721756/?format=api",
    "text_counter": 384,
    "type": "speech",
    "speaker_name": "Hon. Keynan",
    "speaker_title": "",
    "speaker": {
        "id": 41,
        "legal_name": "Adan Wehliye Keynan",
        "slug": "adan-keynan"
    },
    "content": "THAT, this House adopts the Special Report of the Public Investments Committee on the Procurement and Financing of the National Social Security Fund Tassia II Infrastructure Development Project, laid on the Table of the House on Wednesday, 30 April, 2014. Once again, I take this opportunity to thank the House Business Committee (HBC) for prioritising this Motion in this House, taking into account that the Public Investments Committee (PIC) is one of the two critical oversight Committees in this House. It is incumbent upon the leadership of this House and in particular Members of the HBC to always fast-track reports generated by the PIC and the Public Accounts Committee (PAC). This is because they always generate reports that give value to the taxpayers’ money. This is stale. April 30th 2017 is almost three years down the line. I know our term is coming to an end. We have a number of critical pending reports and I hope and pray that the HBC will fast-track these important reports, so that taxpayers can get value for their money. The PIC is mandated to examine reports and accounts of public investments in State corporations and parastatals. Secondly, it is mandated to examine reports, if any, as generated by the Auditor-General. Finally, and most importantly, to examine, in the context of autonomy and efficiency of public investments, whether affairs of public investments are being managed in accordance with sound financial or business principles and prudent commercial practices. It is in pursuant to this third function that the PIC was seized with this important issue of Tassia development project and it decided to carry out a thorough inquiry and do a report. The National Social Security Fund (NSSF) was established in 1965 by an Act of Parliament; Cap. 258 of the Laws of Kenya, in order to administer a provident fund scheme for all workers. Initially, the fund was operated as a department in the Ministry of Labour until 1987 when the NSSF Act was amended transforming the Fund into a State corporation under the management of trustees. The Fund has since been operating under a Board of Trustees. I think the Act was amended again in 2012. The NSSF should be a very important quasi G overnment institution like in other parts of the world like Malaysia and Tanzania. The Malaysian National Social Security Fund in terms of performance, mandate and national obligation, is equated to what the other Government Ministries do. Let me give an example of our neighbours here in Tanzania. The Tanzania National Social Security Fund undertakes some of the most critical infrastructural projects like roads and housing and it remains a vibrant and well managed institution in Tanzania. In Kenya, I am not sure whether the way NSSF is run meets the objectives of the framers of that particular Act. Over the years and in particular since 1990, NSSF has been reduced to a cash cow and a facility for the politically correct and not a facility for the aging population. We have so many Kenyans who have invested heavily in their retirement facility and yet that special kitty, which is supposed to manage their welfare as they grow old or retire, has been mismanaged over the years. The Tassia Project was part of NSSF investment for titles of Blocks 97/21189 and 21190 respectively in the expansive Tassia Estate in Embakasi region along the Outering Road measuring about 350 acres. Shockingly, you know since the advent of multipartyism in 1990, the management of the NSSF has been on the loot. They have literally invested in useless projects that do not add value to the taxpayers’ welfare. I am using the word ‘useless’ and I am not trying to use the privilege of Parliament. That was meant to satisfy the egos and the unending greed of the politically correct since 1990. Today, the NSSF is a liability. It is high time the Government, through the Ministry of Labour, restructures the NSSF. 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."
}