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{
    "id": 272990,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/272990/?format=api",
    "text_counter": 336,
    "type": "speech",
    "speaker_name": "Mr. Kioni",
    "speaker_title": "",
    "speaker": {
        "id": 49,
        "legal_name": "Jeremiah Ngayu Kioni",
        "slug": "jeremiah-kioni"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, if those banks are not talked to, reined in and the oversight Committee fails to do what it should do, then we will see the construction industry suffering because of those high interest rates. Many of the construction companies may fold up. That will affect employment. Even investments in our country will be affected. I think the Departmental Committee on Finance needs to pay attention as to whether the banking sector is, by and large, supporting investments in the country. Are the profits being re-invested or ploughed back to our economy or are they being shipped out of this country? If that is not addressed, then we will continue having a banking sector or industry that continues feeding into the colonial systems that were there before, as opposed to helping us to develop the country. In doing this report, it is important that we also ensure that we do not cause panic in the industry. Many of the statements that have been issued have some very harsh words against the bankers. They have been called “looters” and such other terms that are not useful, when we want the industry to move. I think when we have differences with other players in the other sectors, the best way to deal with it is to sit across the table and chart the way forward. But to call those who have no opportunity to defend themselves “looters” or “greedy” does not help. The industry does not help this country in any way."
}