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{
    "id": 1368386,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1368386/?format=api",
    "text_counter": 294,
    "type": "speech",
    "speaker_name": "Sen. Osotsi",
    "speaker_title": "",
    "speaker": {
        "id": 13588,
        "legal_name": "Osotsi Godfrey Otieno",
        "slug": "osotsi-godfrey-otieno"
    },
    "content": "some money back, the institutions come and repossess their motorcycles. These youths end up losing a lot of money. I want to thank my colleague from Nandi County for bringing a Statement to this House on that matter. We cannot allow crook companies like Watu Credit to continue operating in this county and suffocating our youth who are suffering. Some of them have made savings to pay deposit for the motorcycles. However, because of one or two months default these companies come and take away the motorcycles. As Members of this House, we have, on many occasions, assisted the youth to recover their motorcycles. However, we need a policy on how this shall be done. If we have re-negotiations, then let that be. That is why this Motion is very important and timely. I support it. We need to amend the relevant laws to allow the re-negotiation of the lending terms so that we do not have many cases of auctioning. If you open a newspaper, you see many advertisements of people’s business and houses being auctioned. We need to have a model so that Kenyans are given a chance to re-negotiate these loans so that they do not end up losing their lifetime investments. Mr. Temporary Speaker, Sir, even as I support this Motion. We must also look at the real problem, which is the economy’s performance. When you put so many taxes on everything then we get here. People will be unable to service their obligations. So, we need to relook at the taxation policy in this country and ensure that it supports programmes, such as these. People can borrow and repay the loans comfortably and banks can lend money and expect their money to be recovered at some point. When we had the Coalition Government led by former President the late Mwai Kibaki, we saw something that had never happened in this country. Banks were looking for people in their homes and offices to give them money. They did this without minding if they would be able to pay the money or not. People were able to pay. What has changed? That is the real problem that this House must find out. As we seek for amendment to the law, we must understand the causes of this, which is punitive taxation policy. If the taxation policy is designed in such a manner that every single penny a Kenyan gets is taxed, then we will have this challenge. We know the boda boda operatives are going through a lot of stress. The cost of fuel and taxation has gone up. These young people are all over making rides but they barely raise enough money to support the re-payment of their loans. Some of them are even riding motorcycles that do not belong to them. There are investors who have lent the motorcycles to them. Every day, they need to pay back the money to the investor and still remain with something to support their families. Even as we talk about supporting our people who are going through this challenge, we must also look at the overall economic picture of this country in terms of taxation, cost of living and the factors of economic performance like exchange rates, and fuel cost. These issues will affect our people’s livelihood fundamentally. I support this Motion on the basis that we need to renegotiate the terms and ensure that the relevant laws are amended. At the same time, looking at the bigger picture of economic performance is important. Yesterday I listened to presentations made by"
}