HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept
{
"id": 1503086,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1503086/?format=api",
"text_counter": 326,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": "In determining the nominee’s suitability, the Committee considered the provisions on leadership and integrity as outlined in Chapter 6 of our Constitution. Also, the Committee considered the nominee’s academic qualifications, employment record and work experience, membership to relevant professional associations, roles in public office, political activities and affiliations, potential conflict of interest, suitability to that position, tax compliance obligations, and other thematic areas relevant to the duties and responsibilities of the job that would be assigned to him, if this House approves him as the Deputy Governor of the CBK. Having considered his suitability, the Joint Committee noted that the nominee is a Kenyan citizen and is not a citizen of any other country and, therefore, meets the requirements of Article 78(1) of the Constitution. He demonstrated an aspiration for integrity in public service, and thus meets the requirements of Chapter 6 of the Constitution on leadership and integrity. After scrutiny of his educational background, academic credentials and professional qualifications, work and professional experience, personal integrity, as well as his performance during the approval hearing, the Joint Committee found that the nominee possesses the relevant experience for the position of the Deputy Governor of the CBK, having served for over 36 years in the banking and financial regulations sector, including playing pivotal roles such as that of Director of Banking Supervision, Financial Markets and Banking Services at the CBK, in addition to being an alternate board member in several key boards in the country. The nominee holds a Master’s Degree in Philosophy from the University of Cambridge in the United Kingdom, and a Bachelor of Arts Degree in Economics from the University of Nairobi. He is a Certified Public Accountant (CPA) and a Certified Public Secretary (CPS), certified through the Kenya Accountants and Secretaries National Examinations Board (KASNEB). He is also an associate of the Kenya Institute of Bankers. The nominee has over 36 years’ experience across many sectors in the CBK, including payment systems, quality control, banking supervision, banking services and financial markets. He said that working in those sectors has equipped him with the skills and experience needed to be the Deputy Governor of the CBK. A key factor to note is that when M-Pesa was introduced in this country, it is this nominee, through his role at the CBK, who gave a hearing to the investors who wanted to invest in M-Pesa and facilitated the issuance of the appropriate licences. He is one of the reasons why we have such a robust mobile payment system like M-Pesa, which is one of the best mobile payment systems, not just across Africa, but across the globe. Were it some other public servant who this idea came to, they may have been threatened because this was a new technology. They may have been afraid, developed cold feet and not given such approvals. However, his role in the revolution of mobile payments shows that he is visionary and best suited to be the Deputy Governor of the CBK. Hon. Temporary Speaker, you may remember the crisis that came with the collapse of Chase Bank, and the merger of the National Bank and Spire Bank. This nominee, sitting at the CBK, and in charge of bank supervision, ensured that despite the challenges with those banks, there was minimal crash in the financial sector. The challenges found in these banks resulted in minimal crashes in the financial sector and minimal losses in Kenyan deposits. This demonstrates someone able to work under pressure, make a difference, and has a revolutionary mindset when making development in this country. It is also inspiring to see someone who joined the Central Bank of Kenya as a management trainee, as a very young man, rising through the ranks to become the Deputy Governor of the Central Bank of Kenya. Hon. Temporary Speaker, when we appoint individuals who have worked in other sectors to head institutions at the expense of officers who have diligently worked their way up through the ranks of that particular institution, it sometimes demoralises the professionals. However, it can be good for diversity. This is a clear demonstration that Kenyan systems work:"
}