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{
    "id": 1339753,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1339753/?format=api",
    "text_counter": 46,
    "type": "speech",
    "speaker_name": "Dagoretti South, UDA",
    "speaker_title": "Hon. John Kiarie",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. The Petition on credit people who, in a real sense, are shylocks, is timely. As the Petitions Committee looks at this, I hope they will come up with proposals that might lead to legislation. Predatory lending is very rampant in this country that, if you look around, you will see that there are people who are preying on the desperation of Kenyans. People who lend money to people knowing that the people who are borrowing are extremely desperate. They then put a very high interest to make sure that the person borrowing cannot pay and, after that, they come back and claim a property or auction the borrower. We need a law that will rein in those predatory lenders. That might have informed some of the moves that the Government is making, for example, the Hustler Fund that seeks to plug into that space where predatory lending had gone digital that even reputable institutions are lending to Kenyans in a predatory manner. As we look at those informal ones, let us also go into the banks and see what they do to Kenyans. If you look at the newspaper, you will find eleven pages, acres and acres of properties of Kenyans who cannot repay their loans taken by auctioneers. Finally, Hon. Temporary Speaker, allow me this one minute to say to the Committee of Petitions that, as they look at this petition, they should also consider the matters of infringement of existing laws; laws such as the Kenya Privacy Data Protection Bill. Those predatory lenders are offending the privacy of data owners in Kenya. The law on computer misuse and cybercrimes, the way they infringe on people’s privacy when claiming the money they had lent to Kenyans, is an infringement of the existing laws. As we look at the new laws, let us call them out for the laws they are offending. I appreciate this opportunity."
}