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{
    "id": 1095471,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1095471/?format=api",
    "text_counter": 330,
    "type": "speech",
    "speaker_name": "Kiharu, JP",
    "speaker_title": "Hon. Ndindi Nyoro",
    "speaker": {
        "id": 13370,
        "legal_name": "Samson Ndindi Nyoro",
        "slug": "samson-ndindi-nyoro"
    },
    "content": "convergence of issues that bring around the fostering of these kinds of companies that are young, highly valued and churning billionaires, who are young. One of the convergence that we can borrow as a country is like the one that we have in the USA where you have Wall Street, which is the finance street converging with the Silicon Valley, which is the home of innovation. We must ask ourselves as the Kenyan leaders why the environment within the USA is so conducive for tech and especially fintech. One of the issues is a policy that was made in the last century by the USA policy makers called STEM; fostering of science, technology, engineering and mathematics. That is why you find many of the big companies that are young in the USA are not even founded by the initial citizens of the USA. Most of these companies are started by immigrants. I want to give an example that is relevant to the discussion before us today. One of the premier and original companies that were dealing with fintech is a company called PayPal. Out of the four who started PayPal, three were immigrants. One of them is from Africa called Elon Musk. Elon Musk is currently a billionaire, courtesy of tech. Companies like Tesla Motors and Boring exist because of the policies that were made by the leaders in the USA, where they are now using immigrants’ brains to grow their economy. These people were encouraged to go to the USA and, of course, the proximity of Stanford University around Silicon Valley also gave the environment for their success. Where they went to school was another factor. Even after schooling, whether you dropped out or you completed, there was a good market for your brain in the name of Silicon Valley. We should actually be talking about our Konza City, which currently is just on papers. These are the kind of things that make economies grow at a pace that we are seeing them grow."
}