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{
    "id": 1254164,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254164/?format=api",
    "text_counter": 115,
    "type": "speech",
    "speaker_name": "Prof. Njuguna Ndung’u",
    "speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
    "speaker": null,
    "content": "Hon. Speaker, as part of these initiatives to support the real estate sector, the LAPTRUST IMARA Real Estate Investment Trusts (REIT) has been listed in the Nairobi Securities Exchange following the approval by the Capital Markets Authority. This will provide investors with a unique opportunity to invest in a diversified portfolio of income generating real estate assets. Hon. Speaker, let me turn to pension reforms. Pension coverage in Kenya currently stands at 22 per cent of the working population leaving majority of Kenyans without a pension cover. This underscores the need to extend pension coverage to the informal sector, which constitutes the majority of our workforce. To this end, Hon. Speaker, the Government is working on a National Pensions Policy to address key concerns on coverage, portability of schemes, reciprocal arrangements to address concerns of Kenyans in the diaspora and mitigate the fragmentation in the sector. In furtherance of the ideals under the Bottom-Up Economic Transformation Agenda, the National Treasury has established an innovative scheme – the Kenya National Entrepreneurs Saving Trust (KNEST) with a focus on the population in the informal segment of our economy. In order to promote uptake of the scheme, we will The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}