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{
    "id": 1060730,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1060730/?format=api",
    "text_counter": 318,
    "type": "speech",
    "speaker_name": "Kiharu, JP",
    "speaker_title": "Hon. Ndindi Nyoro",
    "speaker": {
        "id": 13370,
        "legal_name": "Samson Ndindi Nyoro",
        "slug": "samson-ndindi-nyoro"
    },
    "content": "When he legislates for himself, he legislates for many people like him. Therefore, I support this Bill in its entirety. The issue of succession is complex in Kenya. We need to simplify it. When we see the unclaimed assets portfolio growing by the day, it is not because of the fact that people do not know they own those assets. Most of them have already gone. The complex nature of our succession laws has led to this quagmire we are in. Recently, the Unclaimed Financial Assets Authority was formed and we now have billions of money lying in that Fund because of the complex nature of our succession laws. This Bill simplifies the same. The inheritance of yesteryears is not the inheritance of the current day. In the previous years, you could not talk about inheritance without land. But as we grow in terms of numbers, land continues to shrink in terms of per capita land that we enjoy as citizens and descendants in reference to this Bill. Therefore, because of the timeliness of this Bill, it behooves all of us, as citizens of Kenya, especially men, to know that the most important thing that we can bequeath our descendants is to make them stand on their feet. One of the best ways to do that is to give them education. That is the only thing that will never be taken to courts of law with claims that it belongs to one person or the other. As we continue to evolve as a generation, the nature of our inheritance continues to do the same. It is apt for us to continue moving with the times. There is also the economic angle of this Bill on succession and inheritance. In developing countries like Kenya, and poor countries, inheritance is an important topic. We have more dependents than people who can… Hon. Temporary Deputy Speaker, when we see an economy where the rate of investment of assets is higher than the GDP growth or the rate of growth in terms of the economy, Gini Coefficient, is usually very high, it measures inequalities within our societies. If we have an economy where you can just buy an asset or you can be bequeathed an asset by your parents and then you lazy around, and the rate of investment returns from that asset is higher than the rate of economic growth, it means people with basic assets and means of production like land can sleep and earn more than people working in factories and offices. We, therefore, need to ask ourselves why this topic is heated in our country. It is because the people who have inherited continue to gain more without working because the rate of 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."
}