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{
    "id": 861025,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/861025/?format=api",
    "text_counter": 364,
    "type": "speech",
    "speaker_name": "Sen. Moi",
    "speaker_title": "",
    "speaker": {
        "id": 305,
        "legal_name": "Gideon Kipsiele Towett Moi",
        "slug": "gideon-moi"
    },
    "content": "Mr. Deputy Speaker, Sir, I am happy about this Bill because of the fact that they will be compelled to pay a percentage of funds to our local universities to set up oil and gas teaching faculties. (iv) It promotes local manufacture of imports consumed within the local oil and gas industry, It requires investment companies to partner with local companies in transferring manufacturing capability to local companies. In addition, it requires international companies to offer wider shareholding to locals in such companies for knowledge transfer. To achieve these aspirations, the Bill establishes necessary institutions to monitor its implementation. It also prescribes rules of engagement for all parties. It also requires all investment companies in the oil and gas sector in Kenya to adopt annual local content plans which shall be monitored and sanctioned upon non-compliance on annual basis. Continuous monitoring is at the center of the success of this proposed legislation. For these reasons, I personally view local development as more than just a policy. I see it as capacity enhancement for local actors at different levels of society to make meaningful engagements in extracting industry activities with a view to broadening local value chain. Mr. Deputy Speaker, Sir, as I summarize, the purpose of this Bill at the end of the day is that we want to see how Kenyans will get value and benefit from their natural resources. We want Kenyans to have a lick of the spoon. We want Kenyans from the whole value chain to benefit from the natural resources starting from the cooking industry, the logistics or transport industry, the lawyers, bankers, engineers, which I am sure you will be interested in. We do not trust companies that promise to help Kenyans. We are legislating to compel them for it to be a must because these resources belong to Kenyans. Mr. Deputy Speaker, Sir, I am convinced today as I was in 2016 that this is a transformative piece of legislation. This Bill is bound up by the very essence of our aspirations as a people. Therefore, through it, we will have the opportunity to actualize our constitutional aspirations of prospering our people through the judicial expectations on natural resources. I am persuaded that it shall bring prosperity to the entire nation and our people. For this reason, I have zero hesitation in stating unequivocally that this is a very good Bill. With this Bill, Kenya will have gifted herself a versatile tool that will equip her well to hasten to the globalization gravy train in the oil and gas sector where we will have domestic private sector that is not only resilient but globally competitive with strong domestic industries. Through this Bill, we seek to make a bold statement that we shall no longer, as a people, wait for goodwill of the global investment companies. We shall from now on take charge of the tools of trade, improve our capacity and engage on equal terms with the fiercely national outlook. Let us gift ourselves and our future generations the keys to sustainable development. At this juncture, I would like to thank all those who were involved in the development of this Bill. I thank the Committee of the last Senate, some who are with us and those who are presently in the Committee on Energy. I thank the legal clerks who The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}