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{
    "id": 1095448,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1095448/?format=api",
    "text_counter": 307,
    "type": "speech",
    "speaker_name": "Roysambu, JP",
    "speaker_title": "Hon. Isaac Ndirangu",
    "speaker": {
        "id": 2701,
        "legal_name": "Isaac Waihenya Ndirangu",
        "slug": "isaac-waihenya-ndirangu"
    },
    "content": "The need for regulating this sector arises from the very reason that Kenyans are complaining that some of the platforms are charging exorbitant interest rates that get to as high as 200 per cent. This has caused distress among businessmen and families and the result has also been being caught by the CRB. Kenyans have opposed their names being registered on CRB when they are not able to repay the loans. The essence of this Bill is to regulate, but not to kill the digital lenders platform. When we get to the Committee of the whole House, our Committee will introduce several amendments that have been proposed by the stakeholders who appeared before us. We request the House to join us in working on the amendments in the interest and welfare of the digital lenders as well as that of Kenyans who have no other ways of raising capital except through the digital platforms for the reason that they may not have land or huge assets or added properties. With those few remarks, I beg to second the Bill."
}