27 Nov 2018 in Senate:
Many countries have developed from locally generated resources. When we allow investors from outside this country to take over all the contracts pertaining to extraction of minerals, exploration of oil, among other industries, we will be creating a room for them to make a lot of profit and then expatriate it to their counties. Let us assume that every year they make a 10 per cent profit from their investments, in ten years’ time, they 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, ...
view
27 Nov 2018 in Senate:
would have made more than 100 per cent of their original investment. If they continue operating within the country, then every other subsequent year, they will continue making profits at the expense of Kenyans. That means we will be aiding them to create job opportunities for their people in their countries.
view
27 Nov 2018 in Senate:
This Bill is long overdue. Let me give an example of our refinery. Right now, we area extracting oil from Turkana County. Instead of us refining it here, we are exporting it all to another country to be refined. How can we talk about industrialisation of our country if we cannot refine our oil? Before we talk about industrialization, we should start by setting up oil refinery in this country. It can also be useful to our neighbour country, Uganda, which has also discovered some oil deposits. Kenya needs to refine her own crude oil without exporting it. This will ...
view
27 Nov 2018 in Senate:
Mr. Deputy Speaker, Sir, this Bill obligates the Government to ensure there are strategies for preference to be given to locally owned and controlled finance enterprises. It advocates for maximum local value addition of our resources. Currently, we have the Youth Enterprise Fund, Uwezo Fund, among others. We need to support these enterprises and ensure that they benefit our people. Why can we not support our local youth to access to resources that are necessary to ensure that Kenyans benefit from locally generated resources?
view
27 Nov 2018 in Senate:
Mr. Deputy Speaker, Sir, we also have the Export Processing Zones (EPZs). They generate a lot of income from this country. When their grace period of paying taxes lapses, they move to another country and reap the maximum profits. That means, every time the economy of Africa is being drained and exploited by the foreign investors. Our policymakers need to come up with policies that will protect Kenyans from being exploited by these investors.
view
27 Nov 2018 in Senate:
As we do that, Kenyans need to be vigilant of this vice called corruption. We need an enabling environment for locals to thrive. That can only happen if we say no to corruption in this country.
view
27 Nov 2018 in Senate:
Mr. Deputy Speaker, Sir, I gave an example of crude oil from Turkana County. We, as Kenyans, how are we prepared to ensure that we have right skills to drill and refine it? As much as we import some skills, how are we handling skills transfer? We are talking about youths who are about 60 to 70 per cent of the population of this country. How are we empowering them to do the right thing? How are we building our students capacity in schools in terms of identifying the right profession from the beginning so that they focus on the ...
view
27 Nov 2018 in Senate:
It is likely we might discover other oil deposits in Wajir County because it is also in the same kind of environment with Turkana County. We have also discovered coal deposits in Kitui County, among other resources. We need to encourage the youth from tertiary institutions to universities. This would ensure that people have skills to take advantage instead of importing skills. How well prepared are we and what mechanisms have we put in place to make sure our youth acquired the required skills? We need those skills to ensure that Kenyans benefit abundantly from local resources. Apart from having ...
view
27 Nov 2018 in Senate:
As I said, this is an extremely important Bill for this country. Therefore, we should all of us support it.
view
27 Nov 2018 in Senate:
Thank you, Mr. Temporary Speaker, Sir. I beg to move that the Statutory Instruments (Amendment) Bill (Senate Bills No.24 of 2018) be now read a Second Time.
view