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{
    "id": 928801,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/928801/?format=api",
    "text_counter": 73,
    "type": "speech",
    "speaker_name": "Kimilili, FORD-K",
    "speaker_title": "Hon. (Dr.) Chris Wamalwa",
    "speaker": {
        "id": 1885,
        "legal_name": "Didmus Wekesa Barasa Mutua",
        "slug": "didmus-wekesa-barasa-mutua"
    },
    "content": "resource. In human resource, you deal with people and there is no way you can start an enterprise where you do not deal with people. If it is a commercial enterprise, there is a financial implication where the aspect of prudence in financial management is very critical. Issues of customer service, audits and tax paying are very critical obligations which directors need to know. When you start a company or a business venture, obviously you want the business to grow. If you want it to grow, it is, indeed, important that you build capacity when it comes to matters of corporate governance. I can mention some companies which started as small businesses. For example, when you read about Barclays Bank it started as a small business which grew and became a multi-national. So, the small businesses can also grow and become multi-nationals as long as the directors have what it takes. At times, when a business grows as an entrepreneur you do not need to cling onto it and continue being a director. You can let it go and have professional managers and directors. Another example is Unilever which is a multi-national company. Looking at its history, it started as a small enterprise, but because the directors had the capacity and what it takes, you can see how it has grown. Also Equity Bank started as an SME. Right now, when you look at it in terms of customer base in Kenya, it has the largest shareholding. Once we have this Institute of Directors, it will help in enhancing and strengthening the standards of directorship. The concern which the President had, which I want to demystify is that he thought this Bill would interfere with directors of State corporations where the President exercises his discretion to appoint anybody. I want to say on the Floor of this House that it does not interfere with the President or contradict the State Corporation Act where the President has a leeway to appoint whoever he feels like to be on the board of directors. Again, it is voluntary. So, really, the President’s concern has been incorporated in this. I have also looked at the Departmental Committee on Justice and Legal Affairs Report, which I agree with. They made some amendments and when we get to the Committee of the whole House, we will amend the Bill in line with the issues the Committee raised. This Bill has nothing at all to do with county governments or Government finances. So, it does not entail this or concern the counties. It has no money issue from the Ex-chequer."
}