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{
"id": 1549992,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549992/?format=api",
"text_counter": 271,
"type": "speech",
"speaker_name": "Kwanza, FORD-K",
"speaker_title": "Hon. Ferdinand Wanyonyi",
"speaker": null,
"content": "I support this Motion. Thank you very much, Hon. Temporary Speaker."
},
{
"id": 1549993,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549993/?format=api",
"text_counter": 272,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Thank you. Member for Yatta."
},
{
"id": 1549994,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549994/?format=api",
"text_counter": 273,
"type": "speech",
"speaker_name": "Yatta, WDM",
"speaker_title": "Hon. Robert Basil",
"speaker": null,
"content": " Thank you, Hon. Temporary Speaker, for giving me the Floor to contribute or weigh in my points. I support the Motion on ratification of the agreement for the establishment of Africa Finance Corporation. If you look at the world today, United States of America (USA) is saying “America first.” President Trump is even cutting off aid to the rest of the world. As a result, even Europe is regrouping and trying to protect itself from the effects of President Trump and what is happening in USA. It is high time that Africa follows suit and became self-reliant. We over- rely on International Monetary Fund (IMF) and World Bank, which advance the interests of USA, but not of Africa. The interest rates that IMF and World Bank give Africa are quite high. They also bring conditions like the structural adjustment programmes that were there in the 1990s. We have the same conditions today. It explains why many of the African nations are still grappling with poverty and struggling to emerge from economic suffering that they have been subjected to since 1963 and during colonialism. Therefore, this particular Motion is timely. As I said, I fully support the ratification of this agreement for the establishment of Africa Finance Corporation. Some of the benefits that we will get from joining Africa Finance Corporation include support on infrastructure development. We are still struggling with poor roads. The energy sector is facing a big challenge. You can look at the Rural Electrification Programme where many constituencies, for example, Yatta, are below 30 per cent electricity 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": 1549995,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549995/?format=api",
"text_counter": 274,
"type": "speech",
"speaker_name": "Yatta, WDM",
"speaker_title": "Hon. Robert Basil",
"speaker": null,
"content": "connectivity. Telecommunication is also another area where we are struggling. Through Africa Finance Corporation, we will get low-cost loans to support infrastructure development. Another important area is to support long-term financing which will revive the economy and support development holistically in the country. Another key reason which explains why I support this Motion is job creation and industrialisation. Through Africa Finance Corporation, many of our local sectors like energy and telecommunication will be revamped or revived. As a result, jobs will be created. There will also be support to local businesses that will create jobs for many of our youths who are still struggling with unemployment. Like I said at the outset, it is important to support regional integration and trade. This can only be actualised by Kenya joining Africa Finance Corporation, so that it becomes part and parcel of the 43 States that have already joined. The BRICS countries—Brazil, Russia, India and South Africa— are giving an alternative to the World Bank and IMF. Therefore, Africa Finance Corporation will be a force that will basically be championed by Africans to advance their interests. Before I rest my case, as much as we also want to support our country joining Africa Finance Corporation, it is important to underscore that all the money that we are going to borrow must be used prudently to avoid a situation where we will incur more debts and yet, we cannot see the value of the money we have borrowed. With those few remarks, I support the Motion and submit. Thank you, Hon. Temporary Speaker."
},
{
"id": 1549996,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549996/?format=api",
"text_counter": 275,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Member for Homa Bay Town Constituency."
},
{
"id": 1549997,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549997/?format=api",
"text_counter": 276,
"type": "speech",
"speaker_name": "Homa Bay Town, ODM",
"speaker_title": "Hon. Peter Kaluma",
"speaker": null,
"content": " I thank you, Hon. Temporary Speaker. The world is operating under a very difficult economic environment and, more so, for the African countries. While this is happening, the bigger States which have been giving donor support are all looking inwards. It is only right that they do so. The obligation of every State is to first consider itself. I want to agree with colleagues who have said that we want the Bretton Woods institutions to help deal with these economic situations. They need to continue, but some of their conditionalities put States in very difficult situations. We know what happened to Kenya in terms of our Finance Bill, which was rejected last year."
},
{
"id": 1549998,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549998/?format=api",
"text_counter": 277,
"type": "speech",
"speaker_name": "Homa Bay Town, ODM",
"speaker_title": "Hon. Peter Kaluma",
"speaker": null,
"content": "It is, therefore, becoming very necessary that we look at models of financing around Africa that would avail ready money to us. One model is what we call Savings and Credit Co- operative Society (SACCO) locally. This is somewhere we can invest, and people who need those monies can borrow and use them. We can be earning something minimal as an investor in such corporations. We need somewhere where we can get easy money whenever we need it mainly for purposes of urgently needed infrastructure. Those can be roads, expansion of railway networks and airports. We are in a situation where we do not have enough money to deal with all our infrastructure needs and yet, our people are poisoned against alternative sources like the Public Private Partnerships (PPPs), where the private and the public bring money together. The other time we were thinking of a PPP on the reconstruction of Jomo Kenyatta International Airport, but without due understanding, people made noise all over saying it amounted to selling the airport."
},
{
"id": 1549999,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1549999/?format=api",
"text_counter": 278,
"type": "speech",
"speaker_name": "Homa Bay Town, ODM",
"speaker_title": "Hon. Peter Kaluma",
"speaker": null,
"content": "In those circumstances, the African Finance Corporation comes in handy. Some of us have spoken about the African Development Bank. But they give loans on very high and exorbitant conditions. If we do not model those financial institutions around ourselves, our cultures and our currencies, we will always have problems. People have forgotten that before President Trump came in, when any organisation which was giving money to any State, be it a loan, grant or aid, had to condition it upon recognition of Lesbian, Gay, Bisexual, Transgender, 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": 1550000,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1550000/?format=api",
"text_counter": 279,
"type": "speech",
"speaker_name": "Homa Bay Town, ODM",
"speaker_title": "Hon. Peter Kaluma",
"speaker": null,
"content": "Queer (LGBTQ) as human rights undertaking to support it. That was an Executive Order signed by President Obama. I am happy President Trump has now come and we do not have such conditions. But in as much as President Trump has come, the Republicans by their nature, look inwards. There is very limited financing available here."
},
{
"id": 1550001,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1550001/?format=api",
"text_counter": 280,
"type": "speech",
"speaker_name": "Homa Bay Town, ODM",
"speaker_title": "Hon. Peter Kaluma",
"speaker": null,
"content": "When we have the African Finance Corporation, we will have an institution to invest in and from which we can borrow on terms which are acceptable; terms which do not impose changes to our cultural norms. We will also borrow on currencies we dictate. We can borrow in Kenya shillings. We remember when the dollar moved from Ksh110 to Ksh169. It meant that if we had taken a loan, it would have moved in terms of our denomination by that amount."
}
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}