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{
    "id": 1275559,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1275559/?format=api",
    "text_counter": 83,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "I rise, pursuant to Standing Order No.53(1), to seek a Statement from the Standing Committee on Trade, Industrialisation and Tourism regarding alleged malpractices and exploitation of Kenyans by Watu Credit. In the Statement, the Committee should - (1) State the criteria, requirements and standards that motor credit service providers and Fintech companies must meet before they are fully registered and permitted to operate by the Central Bank of Kenya; (2) Clarify whether Watu Credit is a duly registered motor creditor and if it falls under the regulatory purview of the Central Bank of Kenya, giving reasons for the high interest rates charged by Watu Credit to its customers, leading clients to pay more than triple the market price for a motorbike; (3) Explain the numerous cases reported concerning theft of motorbikes, specifically those whose owners have cleared their loans with Watu Credit; and, (4) Cause Watu Credit to disclose its financial status, furnishing the details of all their customers currently servicing loans and those who have completed their repayments since the company began its operations in Kenya. I thank you."
}