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{
    "id": 1561750,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1561750/?format=api",
    "text_counter": 538,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "riders, motorists need to respect each other on the roads. Our bodaboda riders are equal to motorists. They deserve respect on our roads. There is another policy direction in this House. I sponsored the Business Laws (Amendment) Bill that was passed. One of the critical amendments we had was to stop the exploitation of the ‘Buy Now Pay Later Programme’ that was being done by financial institutions. Bodaboda riders would pay a deposit of Ksh20,000 for a motorcycle but, after calculating the amount of money they paid for the loan on that motorcycle, they would find that it was twice or thrice the cost. In addition, if they defaulted on one payment, even towards the tail-end of the repayment of the loan, the motorcycle would be repossessed. So, by bringing the ‘buy-now-pay-later’ schemes under the purview of the Central Bank of Kenya (CBK), we expect that they will adhere to the principle of not charging interest of more than the principal amount of an item. Those are some of the interventions this House has made. We urge the private sector to innovate and make bodaboda riding as comfortable and safe as in the examples we have talked about of China and Rwanda. There is a company called Oya which has partnered with TotalEnergies Stations such that, when bodaboda riders fuel at TotalEnergies Stations, they contribute towards a medical scheme for themselves and their The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}