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{
    "id": 1105196,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1105196/?format=api",
    "text_counter": 374,
    "type": "speech",
    "speaker_name": "Homa Bay CWR, ODM",
    "speaker_title": "Hon. (Ms.) Gladys Wanga",
    "speaker": {
        "id": 590,
        "legal_name": "Gladys Atieno Nyasuna",
        "slug": "gladys-atieno-nyasuna"
    },
    "content": "I want to thank the Members who have contributed to this Bill. They have raised important issues. including the Njenga Karume case that Hon. Passaris, Hon. Makau, Hon. King’ola and Hon. Professor were speaking to. The matter centred on trustees who go rogue. One of the amendments we are making is also tightening the loose ends as far as trustees are concerned to ensure that trustees do not become rogue to an extent of having a situation like that being experienced in the management of the estate of the late Njenga Karume. That is what is moving people away from registering trusts. As I said while I was moving this debate, trusts are not necessarily for wealthy people. But people are discouraged from registering trusts even for courses they believe in because of the ambiguity of law, which makes registering a trust so tedious. That discourages everybody. People think that registering a trust in this country takes three to four years. People save their money abroad, knowing that it is actually capital flight. We need that money in this country. The Government needs domestic capital to borrow from. People keep their money outside this country because we have not provided a safe environment for keeping our money locally. So, we have a problem of capital flight. That is what this Bill is trying to address. Hon. Deputy Speaker, I thank you for giving me this opportunity. I also thank the Members who have contributed to this debate. I also thank the Members who sat here and listened to the debate even though they were not able to contributed, like Hon. Savula. I am sure there will be another opportunity for you to contribute. Just read the Report. If you have progressive views, we can debate and incorporate them in the Bill during the Committee of the whole House. With those remarks, I beg to reply."
}