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{
    "id": 1127098,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1127098/?format=api",
    "text_counter": 577,
    "type": "speech",
    "speaker_name": "Nambale, ANC",
    "speaker_title": "Hon. Sakwa Bunyasi",
    "speaker": {
        "id": 2511,
        "legal_name": "John Sakwa Bunyasi",
        "slug": "john-sakwa-bunyasi"
    },
    "content": "from that. Provident funds provide opportunities where you can remit from diverse contributors or subscribers. Institutions should have the professional responsibility to manage resources in a way that they can look back on 20 or 30 years from now. They should manage funds for people, more for some and less for others, so that whether they are in private or public institutions, they can contribute with the expectation that their funds will be managed within a legal environment. We and the Senate are custodians of the legal environment for making laws that will ensure that those promises are kept apart from issues of financial probity, and that they are observed in situations of that nature. I know that many countries use those resources for long-term investments like housing and claim that that will benefit workers. However, that must only be done where there is sufficient liquidity to guarantee payments when time is due. Otherwise, that is the kind of thing that leads people to suicide when they are desperate and do not know which way to go. All in all, I support the work of the Office of the Auditor-General in looking at this. I hope that we will get answers and pass legislation that will tighten the loose ends. Kenya is doing well in having these kinds of institutions in place. We will always seek to improve them. I support."
}