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{
    "id": 1237624,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1237624/?format=api",
    "text_counter": 387,
    "type": "speech",
    "speaker_name": "Emuhaya, ANC",
    "speaker_title": "Hon. Omboko Milemba",
    "speaker": null,
    "content": "We cannot fail to mention the issue of currency. In fact, this is where the rubber will finally meet the road. If it can legislate so that we have a common currency between or among the African states even if we were to begin with a few, we would solve the problem of scarcity of the dollar. Yesterday, when the Prime Cabinet Secretary was addressing this Parliament, he severally talked about how our dollar stocks are diminishing and he is worried about dollar stocks. It is because the dollar is used by many states which form what is called the United States of America. Therefore, it is a very strong currency. So, if they bring a common African currency, it can be used to negotiate loans. Imagine the depreciation the Kenya Shilling has now had against the dollar, and that has made us pay almost double what we would have paid as foreign debt. A common currency could strengthen the African region. Finally, even though I have seen the red light, the political legislation in this Parliament must be serious. This will help us have leadership that is democratic and one that can respect constitutions of their own countries. Countries that do not respect their own constitutions can even be kicked out of this Parliament and the organization. Politics and the inability of these countries to respect their own constitutions is hurting Africa the most. If you look at the happenings in the Republic of Sudan…"
}