Adan Keynan

All parliamentary appearances

Entries 1101 to 1110 of 2568.

• 21 Apr 2015 in National Assembly: 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. view
• 21 Apr 2015 in National Assembly: Something shocking again happened on 31st December 2012. On that day, the Government of Kenya was expected to contribute to the further restructuring of Telkom Kenya by contributing Kshs4.9 billion. The Government of Kenya made a number of commitments without budgetary provisions. Later on, the consortium that bought Telkom Kenya went round and said that they were willing to write off all the debts totaling Kshs30billion in exchange for further dilution of the Government shares from 49 per cent to 40 per cent. They wanted Kshs30 billion in exchange for 9 per cent of the shareholding. If 9 per cent ... view
• 21 Apr 2015 in National Assembly: All these were done without contacting any asset registry, conducting any valuation and going through the route that any transparent restructuring would have gone through. It is because of this that the Government of Kenya’s shareholding was later on reduced. The Government allowed, in exchange of Kshs30 billion loan to reduce its shareholding in Telkom Kenya by 9 per cent. Again, the Government failed to honour the commitment that they had entered into with other groups in contributing Kshs4.9 billion. Eventually what happened is that, it lost a further 10 per cent of the shareholding of Telkom Kenya through dubious ... view
• 21 Apr 2015 in National Assembly: Hon. Temporary Deputy Speaker, there is a company called “Alcazar Capital Limited.” We went out of our way to find out more about its ownership. We were told the company was fully represented in the Board. We did due diligence. To date, none of the Public Investments Committee (PIC) members can tell the whereabouts of this company which participated in this consortium. Initially, we were told they are based in Dubai and we realised they are not there. Later on we were told they are based somewhere in Upper Hill Estate, but we found out they are not there. Then ... view
• 21 Apr 2015 in National Assembly: Hon. Temporary Deputy Speaker, this being the case, we came up with a number of observations. The first observation is why the Government of Kenya and the players who were involved in this did not find it prudent to involve the key oversight agencies.Why did they exclude the Communications Authority which has the oversight role in telecommunication sector in this country? Why was the Attorney-General of Kenya not involved? Why was the Privatisation Commission, an entity that the taxpayers fund to oversee any privatisation venture, not involved? Why was the Auditor-General of the Republic of Kenya not involved? These are ... view
• 21 Apr 2015 in National Assembly: The other bit is this: Why was this key process undertaken at a time when everybody was busy with the general elections that is, 21st December 2007 and 31st December 2012? Why did these individuals’ time when Kenyans were very busy? On 31st December, how many Kenyans work? It is when the year is coming to an end and more so, it was an election year in 2012. Somebody sits in an office, crafts a privatisation programme that includes giving away over 40 per cent of the shareholding of Telkom Kenya that totals to billions of shillings. You can jot ... view
• 21 Apr 2015 in National Assembly: The other thing is that there was no planning at all. There was no feasibility study done. The asset registry was not done, and there was no valuation; nothing at all was done and you know Telkom Kenya has property all over. It is a remnant of the giant Kenya Posts and Telecommunications Corporation. How do you carry out a privatisation programme without proper planning, valuation and involvement of key institutions required to play oversight role? We have asked for the asset registry, but none has been availed by both Treasury and the Ministry of Information, Communication and Technology, and ... view
• 21 Apr 2015 in National Assembly: Hon. Temporary Deputy Speaker, privatisation, to date, has not benefitted the taxpayers. Telkom Kenya is struggling. Is it by design? In the past there have been a number of entities that we privatised at a throw-away price and they were eventually bought by the same cartels that engineered this privatisation at a throw-away price. This is the trend in Kenya and I want to ask the hon. Members here to tell me which privatisation has succeeded in Kenya since Independence. I want to jog your minds and ask you to state even one. The only one which we celebrated was ... view
• 21 Apr 2015 in National Assembly: and individuals to buy it. Is that the state we want Telkom Kenya to find itself and yet it is a giant entity? Today, it is struggling behind some of the privately owned telecommunication companies that were recently incorporated in Kenya. Is that something we can accept to happen to Telkom Kenya? This happened because it was by design. The privatisation is done in an opaque manner with anonymous individuals who eventually come around to use the proceeds and claim that they are revamping it. That is the trend in Kenya. Is that really what we want? Today, Telkom Kenya ... view
• 21 Apr 2015 in National Assembly: The Attorney-General of the Republic of Kenya is the chief Government legal advisor. Why was he not in the know? Why was he not in the picture? Why did he not participate in this? The answer is that the Attorney-General would have raised some fundamental legal issues on this key privatisation. This was not done. How do you privatise a key security entity to companies and individuals whose identities are not known? This Alcazar Capital Limited, who owns it? We had asked the Treasury, CCK, the Privatisation Commission and Telkom Kenya and what we were told is that they exited ... view