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{
    "id": 121212,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/121212/?format=api",
    "text_counter": 340,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
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    "content": "Mr. Deputy Speaker, Sir, for our youth in rural areas and to aid the bodaboda mode of transport, we also aim to zero-rate the VAT on bicycles in order to make them affordable and to ease transport in many parts of our country. Despite progress that we have made in our banking sector, we also acknowledge that many Kenyans still remain unbanked due to the limited outreach of banks. In order to deepen outreach of the banking institutions and to improve financial inclusion to the vast under-banked and unbanked population, I did, indeed, make proposals to amend the Banking Act to allow for branchless banking and this measure is expected to allow banks to extend their footprints through agencies with wide distribution networks as opposed to establishing physical branches. In the same spirit, I did also further propose to list and exempt financial services from VAT, irrespective of the institution of residence."
}