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{
"id": 1415121,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415121/?format=api",
"text_counter": 413,
"type": "heading",
"speaker_name": "",
"speaker_title": "",
"speaker": null,
"content": "ASPECTS OF FINANCIAL SERVICES OFFERED BY TELECOMMUNICATION COMPANIES"
},
{
"id": 1415122,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415122/?format=api",
"text_counter": 414,
"type": "speech",
"speaker_name": "Nominated, ODM",
"speaker_title": "Hon. Irene Mayaka",
"speaker": null,
"content": " Thank you, Hon. Temporary Speaker for your wisdom. I wish to request for a Statement regarding various aspects of financial services being offered by telecommunication companies in Kenya."
},
{
"id": 1415123,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415123/?format=api",
"text_counter": 415,
"type": "speech",
"speaker_name": "Nominated, ODM",
"speaker_title": "Hon. Irene Mayaka",
"speaker": null,
"content": "Pursuant to the provisions of Standing Order 44 (2) (c), I rise to request for a Statement from the Chairperson of the Departmental Committee on Finance and National Planning regarding various aspects of financial services being offered by telecommunication companies in Kenya. Telecommunication companies such as Safaricom PLC, Airtel, Telecom among others provide a wide range of services and solutions, primarily mobile, voice, messaging, data, financial and digital services that enable commercial and personal platforms. However, these companies through various digital applications such as M-Pesa, digital loan products, Fuliza, Airtel Money, Airtel Wallet, T-Kash among others have been offering loans using money believed to belong to non-borrowing digital application users, thus engaging in financial business without having been licensed as banks or financial institutions. Further, telecommunication companies do not adequately address the SIM swap fraud, which has seen customers lose millions of shillings through scams and fraud targeting their mobile money services. Their customers have been victims of scammers who have been accessing their bank accounts using the victim's identification details. Hon. Temporary Speaker, it is against this background that I seek a Statement from the Chairperson of the Departmental Committee on Finance and National Planning on the following matters — 1. Could the Committee undertake an inquiry into how telecommunication companies, through digital applications such as M-Pesa, digital loan products, Fuliza, M-Shwari and Airtel Wallet have been offering loans using money believed to belong to non-borrowing digital application users, thus engaging in financial business without having been licensed as banks or financial institutions? 2. State the measures that the ministry has put in place to ensure that the interest charged on loans and other credit facilities advanced to customers by telecommunication companies adhere to the law on interest capping? 3. What regulatory framework has the Government put in place to ensure that all the financial transactions, including loans and promotions transacted through all telecommunication companies are secured from cyber criminals? 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"
},
{
"id": 1415124,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415124/?format=api",
"text_counter": 416,
"type": "speech",
"speaker_name": "Nominated, ODM",
"speaker_title": "Hon. Irene Mayaka",
"speaker": null,
"content": "4. What strategic response and protection measures have telecommunication companies adopted to address fraud related charges in mobile money services and tackling sim swaps? I thank you, Hon. Temporary Speaker."
},
{
"id": 1415125,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415125/?format=api",
"text_counter": 417,
"type": "speech",
"speaker_name": "Hon. Peter Kaluma",
"speaker_title": "The Temporary Speaker",
"speaker": {
"id": 1565,
"legal_name": "George Peter Opondo Kaluma",
"slug": "george-peter-opondo-kaluma"
},
"content": " The Chairperson, Departmental Committee on Finance and National Planning."
},
{
"id": 1415126,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415126/?format=api",
"text_counter": 418,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": " Thank you very much, Hon. Temporary Speaker. Hon. Irene has raised a very important matter and the Departmental Committee on Finance and National Planning is well seized of this matter. We have seen thousands, if not millions of Kenyans, lose their money from their bank accounts. When they raise those concerns with their respective banks, this has not been addressed. We have had people lose money from their mobile applications and when this particular matter is raised, it has not been addressed. These institutions have a tendency to tell the customers to go report at the police station. Once this matter is reported to the police and an occurrence book (OB) number is obtained, nothing much is done. As the Committee mandated to oversee the financial sector, we request to conduct an inquiry instead of seeking for a Statement so that we ask all Kenyans that have lost their money in either a bank account, Sacco account, microfinance account or through a mobile application to write to us to address that matter. If for any case it is because of non-existence of a legal framework, then this being a law-making House, we will propose the correct law. This is to protect the hard-earned salaries and savings of very hardworking Kenyans. I thank you, Hon. Temporary Speaker."
},
{
"id": 1415127,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415127/?format=api",
"text_counter": 419,
"type": "speech",
"speaker_name": "Hon. Peter Kaluma",
"speaker_title": "The Temporary Speaker",
"speaker": {
"id": 1565,
"legal_name": "George Peter Opondo Kaluma",
"slug": "george-peter-opondo-kaluma"
},
"content": " By when did you say, you want to respond to the Statement?"
},
{
"id": 1415128,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415128/?format=api",
"text_counter": 420,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": " Give us 30 days, Hon. Temporary Speaker."
},
{
"id": 1415129,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415129/?format=api",
"text_counter": 421,
"type": "speech",
"speaker_name": "Hon. Peter Kaluma",
"speaker_title": "The Temporary Speaker",
"speaker": {
"id": 1565,
"legal_name": "George Peter Opondo Kaluma",
"slug": "george-peter-opondo-kaluma"
},
"content": " Will that work for you, Hon. Mayaka?"
},
{
"id": 1415130,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1415130/?format=api",
"text_counter": 422,
"type": "speech",
"speaker_name": "Nominated, ODM",
"speaker_title": "Hon. Irene Mayaka",
"speaker": null,
"content": " Hon. Temporary Speaker, I agree with the Chairperson of the Department Committee on Finance and National Planning, that 30 days would be sufficient. This should not take the angle of a Statement but rather an inquiry. As he has clearly put it, we obviously need to also hear from the public in terms of their experiences for us to make a clear determination. I concur with the Chairperson."
}
]
}