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{
    "id": 1213884,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1213884/?format=api",
    "text_counter": 255,
    "type": "speech",
    "speaker_name": "Nyeri Town, UDA",
    "speaker_title": "Hon. Duncan Mathenge",
    "speaker": null,
    "content": "posting any profits. Those profits are directly linked to the appetite for Government paper. The Government must move out of the local economy in terms of borrowing to allow Kenyans who actually own this country and this Government to thrive by allowing local banks to have sufficient liquidity to go out and become competitive in terms of pricing of interest rates. As long as the Government is the single largest active player in the local debt market, Kenyan entrepreneurs, including our youth, will continue languishing in poverty. Companies in this country will continue to close as a result of failure to get financing to expand, innovate and carry out improvements in line with market trends and demands. A debt like the Standard Gauge Railway (SGR) had a negative effect on this country because it resulted in killing businesses that were thriving before the SGR came in. We are borrowing and then insulating the repayment of the debt at the cost and expense of the local economy. That is not sustainable. Therefore, the presence and say of this House in determining when, where and for what purpose the Government must borrow is long overdue. I, therefore, support this Committee for the positive steps that they are taking. I urge this House to be bolder and to have a say in determining what can be borrowed by our Government and what cannot. That is my submission. I support the Report."
}