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{
    "id": 14597,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/14597/?format=api",
    "text_counter": 571,
    "type": "speech",
    "speaker_name": "Mr. Namwamba",
    "speaker_title": "",
    "speaker": {
        "id": 108,
        "legal_name": "Ababu Tawfiq Pius Namwamba",
        "slug": "ababu-namwamba"
    },
    "content": "Madam Temporary Deputy Speaker, thank you for this opportunity to add my voice to this landmark piece of legislation, because, indeed, that is what it is. Let me also join my colleagues in congratulating our new Deputy Governor of the CBK, Dr. Sirma. Indeed, there has been quite some concern about the longevity of the vacancy in this very important position of the Deputy Governor of our CBK. Therefore, it is in order for us to congratulate this eminent Kenyan and encourage him to be part of the solution, because he comes into office at a time when the monetary environment in the country is facing monumental challenges. Our shilling has been in a free fall against major currencies, and inflation is at a record level. We hope that the new Deputy Governor will join the Governor and the rest of the team responsible for managing this state of affairs to put a firm hand on this matter and get our economy firmly back on track. Madam Temporary Deputy Speaker, I say this because the economic growth projections of this financial year, I am reliably informed that have had to be revised downwards, because of this alongside other challenges. We really look forward to seeing remedial measures in that direction. So, congratulations and I send my appreciation to the President and the Rt. Hon. Prime Minister for this particular appointment. Madam Temporary Deputy Speaker, the movement and handling of capital is basically the heart and soul of any economy. How money is handled, how it moves, how it changes hands and how money is allowed to oil the various aspects of the economy determines everything for a country. We are living in very exciting times in the country. We have this big dream of Vision 2030. We want to become a medium-sized industrialized country in the next 19 years. It is a major ambition. In interacting with the Kenyans across the country--- I have just been chairing a Select Committee of this House that was put in place to investigate the whole challenge of the cost of living that has spiraled. In our interactions, because we have met Kenyans of all walks of life basically across the entire spectrum of the economy, many Kenyans have expressed frustration about the economy set-up in this country. In one hearing in Kibera, one Kenyan told us that unless we fix these problems and fix them expeditiously, then perhaps the economic honchos in this country should revise Vision 2030 to become Vision 3020. That Kenyan could not see how we were going to honestly raise the status of this country to a newly industrialized medium-sized economy by 2030, which is a very short 19 years from now."
}