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{
    "id": 1507153,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1507153/?format=api",
    "text_counter": 201,
    "type": "speech",
    "speaker_name": "Sen. Osotsi",
    "speaker_title": "",
    "speaker": {
        "id": 13588,
        "legal_name": "Osotsi Godfrey Otieno",
        "slug": "osotsi-godfrey-otieno"
    },
    "content": "The issue of financial inclusion has been effectively addressed by M-Pesa platform. Mr. Nyaoma having been one of the key people who approved the usage of M- Pesa, should play a big role in ensuring that we have enhanced financial inclusivity in this country. We have so many people who are keeping money under their mattresses. Some are keeping their money under their chest or breasts. This is money that should be put in the bank. They are doing this because we have gaps in our financial inclusion strategy. We hope that Mr. Nyaoma will guide the CBK to ensure that we have an effective financial inclusion strategy to warrant as many Kenyans as possible join the banked population. The issue of high liquidity is a concern. Banks nowadays are holding a lot of money, which they cannot lend out and you wonder why. During President Kibaki's time we used to see people moving around with the forms, asking us to apply for loans, but we no longer see those people do the same. I do not know what changed. We have a lot of liquidity in the bank which ideally should be available to the citizens of this country, so that they can invest in businesses for productive or multiplier effect in our economy. Mr Nyaoma, according to the report that we have, is in fact, overqualified for this position. This is one person who ideally should be the CBK governor. Nonetheless, he has been there for many years, learnt on job, and it was only wise that such a person be promoted to the position of Deputy Governor. We wish him well and hope that he is going to use his knowledge and experience for the betterment of the CBK and also to help in ensuring that CBK performs its role as a premier bank in this country; a bank that is critical to our economy and that should work for the people of Kenya. With those few remarks, I support the appointment of Mr. Gerard Nyaoma Arita to be the CBK Deputy Governor. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}