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{
    "id": 1511972,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1511972/?format=api",
    "text_counter": 343,
    "type": "speech",
    "speaker_name": "Buuri, UDA",
    "speaker_title": "Hon. Mugambi Rindikiri",
    "speaker": null,
    "content": " We are making what I call a principle. That does not mean that this country will have only 24 banks. How are we going to encourage the start-ups? After five years, we will lock out the 24 because they cannot raise Ksh10 billion. With all due respect, the principle that we are providing for in this Bill must be progressive and be a law that is going to promote business to thrive. We are encouraging formation of SACCOs which need to be given time to incubate and grow. If we make it that after four or five years they must have a core capital of Ksh10 billion, it means anybody else trying to enter the banking sector in this country must loose Ksh10 billion. We should make a progressive law."
}