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"id": 1095764,
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"type": "speech",
"speaker_name": "Makueni, WDM-K",
"speaker_title": "Hon. Daniel Maanzo",
"speaker": {
"id": 2197,
"legal_name": "Daniel Kitonga Maanzo",
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"content": "There are quite a number of developments in this particular area, including digital money which many central banks in the world have rejected, including our own, for lack of a law which could be a medium of transaction or which could provide a way forward. A lot of that has gone on illegally. It is, therefore, important that we have a law that catches up with the developments in the world. One of the major things that happened is M-Pesa. We must thank former President Kibaki, his then Minister for Finance and the input of the late Hon. Michuki at that particular time. Having been an economist and Minister for Finance for a long time, former President Kibaki understood the whole matter very well. We were the first ones in the world to, even without a legal infrastructure, accept M-Pesa. You can see how it has revolutionised the economy. The legal framework for M-Pesa had to follow later for the limit to be set and regulations developed. 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."
}