Senate Standing Committee on Trade, Industrialization and Tourism held a hybrid meeting today to consider a Petition and statements before the Committee.

Mr. Nicholas Rono, the Petitioner on a Petition concerning fraudulent shareholding activities and illegal acquisition of East African Breweries Limited (EABL) appeared before Committee to provide additional information on the issues he had raised and to get an update on the current status of his petition.

Nominated Sen. Esther Okenyuri has sought a statement in Senate on the boundary delimitation of the area surrounding Migingo Island in Lake Victoria.

Taita Taveta Senator Johnes Mwaruma, is seeking a Statement from the Standing Committee on Land, Environment and Natural Renounces regarding the status of adjudication of Kaloleni Majengo Settlement Scheme in Voi Subcounty, Taita Taveta County.

Senator Mwaruma in his Statement wants the Committee to update the Senate on the Land adjudication process; Committee to State the reasons for the abandonment of the adjudication process.

The Commissioner of Cooperative Development Mr. David Obonyo and Mr. Peter Wanjohi (Drumvale Farmers Cooperative Society liquidator) appeared before Senate Standing Committee on Trade, Industrialization and Tourism today to appraise the Committee on various unclear matters in the Petition regarding liquidation of Drumvale Farmers Cooperative Society in Machakos County. 

The Senate Standing Committee on Trade, Industrialization and Tourism held a meeting today with a team from the Capital Markets Authority (CMA) led by the CEO, FCPA Wyckliff Shamiah to consider a Petition by Mr. Rono Nicholas on the alleged fraudulent acquisition of shareholding at the East African Breweries Limited. 

The Petitioner had prayed that the Committee investigates the matter with a view to recommending amendments to the Capital Markets Authority (CMA) Act to cushion the shareholders from such future manipulation.