With regard to the Development Finance Institute Canada (FinDev) and M-KOPA holdings, since May 1, 2017: (a) what is the total in dollar terms FinDev has invested in M-KOPA; (b) did any cabinet member approve the M-KOPA investments, and, if so, who and on what date; (c) how many M-KOPA shares were purchased, on what date, and at what unit price; (d) what percentage of all shares does FinDev own; (e) what is the predicted rate of return on FinDev’s investment in M-KOPA in (i) two years, (ii) five years, (iii) ten years; (f) how many new jobs in Kenya are attributed to the FinDev investment; (g) what is the name and full-time job title of FinDev’s observer at the M-KOPA board; (h) has FinDev or its board observer determined if M-KOPA employees, salespeople or agents are paid in compliance with Kenya’s minimum wage; (i) has FinDev or its board observer approved executive pay to chief executive officer Jesse Moore of a minimum US$250,000 per annum plus bonus and stock options; (j) has FinDev or its board observer determined if M-KOPA practices usury or charges customers criminal interest rates as defined by Canada’s Criminal Code; (k) did FinDev or its board observer include an “Environmental and Social and Governance” clause in its agreement with M-KOPA; and (l) has FinDev or its board observer invoked any Environmental, Social and Governance breach in seeking a return of its original investment?
In the House of Commons on April 23rd, 2021. See this statement in context.