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{
    "id": 1097501,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1097501/?format=api",
    "text_counter": 335,
    "type": "speech",
    "speaker_name": "Muhoroni, ODM",
    "speaker_title": "Hon. Onyango Oyoo",
    "speaker": {
        "id": 2408,
        "legal_name": "James Onyango Oyoo",
        "slug": "james-onyango-oyoo"
    },
    "content": " Thank you very much, Hon. Temporary Deputy Speaker, for giving me an opportunity to add my voice to this noble Bill. First, I want to start by thanking the Departmental Committee on Finance and National Planning, chaired by the iron lady, Hon. Gladys Wanga, for remembering Hon. Oroo Oyioka’s dream posthumously. Everything that happens in life, more so in this country, has good and bad sides. While digital and mobile lending has given ease in accessing money by various people, it has lots of side effects because the interest rate is very high. It has discouraged the young people from working hard. These days I go home and young people tell me: “Tomorrow we will treat you uncle.” I start wondering this man is jobless, how is he going to treat me? The following day there is betting and when they come back, they have money and within a short time, when I want to get them employment elsewhere, I realise they are in CRB. So, while I am saying that this should continue to make life a little bit easier for our boys, we call upon the CBK, after this amendment, to regulate them and not only the small mobile and digital lenders, but we want them to move even to Safaricom. With the convergence of the mobile and digital lending, Safaricom appears to have dropped its noble mandate of telecommunication. You want to make a call and find that you cannot reach your destination because of the interest that is put on M-Pesa business. They must be regulated and the money lenders must be checked. The CBK must do everything it can after we pass this Bill. How I wish Hon. Oroo Oyioka would have been here to find the overwhelming support the Bill has! We will support the Bill when it comes for the amendment and also float other amendments. Thank you very much, Hon. Temporary Deputy Speaker."
}