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"type": "speech",
"speaker_name": "Sen. Olekina",
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"speaker": {
"id": 407,
"legal_name": "Ledama Olekina",
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"content": "Mr. Speaker, Sir, I rise to make some brief comments on the statement brought by Sen. Eddy on consumer protection. It is disheartening to hear that senior citizens are now falling prey to fraudsters who are targeting their retirement income. When I heard that statement being read by Sen. Eddy, I asked myself where the Competition Authority of Kenya (CAK) is. Although that is a big problem worldwide, when you look at other jurisdictions, Members of the Congress have discussed this issue. They ended up inviting financial institutions and consumer protection bureaus to understand what they should do to protect senior citizens. If a senior citizen who has worked tirelessly is about to retire, but the day they retire their money disappears at a go, that means losing all their money, what do you expect them to do? Mr. Speaker, Sir, I hope that the committee that will investigate this matter will sit down with the CAK to understand. Are they just collecting money or they engage in educating citizens on how they can protect their wealth? It is imperative that financial institutions--- I have heard Absa Bank being mentioned here. I call upon Absa Bank to train its staff to be able to trace and detect any suspicious withdrawals. These are issues that can be dealt with. Sometimes when you receive a huge amount, banks are quick to ask why you have received money from a certain person. Those are important issues to discuss in order to know whether we should develop further legislation to protect our senior citizens. If we do not do that, we will continue allowing senior citizens to fall prey; like a wolf that suckles a vulnerable prey. That is ridiculous. Mr. Speaker, Sir, I thank the distinguished Senator for Migori for bringing this matter, which we must follow through to ensure that we protect our senior citizens. I thank you."
}