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{
    "id": 301614,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/301614/?format=api",
    "text_counter": 306,
    "type": "speech",
    "speaker_name": "Mr. C. Onyancha",
    "speaker_title": "",
    "speaker": {
        "id": 126,
        "legal_name": "Charles Onyancha",
        "slug": "charles-onyancha"
    },
    "content": "Thank you, Madam Temporary Deputy Speaker. I rise to second the Bill and as I do that, I wish to thank my friend, Mr. Jakoyo, for presenting this Bill. For a very long time now, consumers have been very disadvantaged in our country. Most of the consumers consume common cheap goods because of the levels of poverty in the country. These are the same goods through which they are exploited in terms of price and their rights to obtain goods of the quality that is acceptable, rights to obtain goods at a price that is reasonable and rights to obtain goods that are what they purport to be. This Bill seeks to correct all those unfair practices which have been previously loaded on the consumer. I know from certain aspects this will be looked at as an attempt to control trade. This is a good attempt for many reasons. There is no reason why we should pretend to be a Parliament if we cannot protect our voters from excessive price including the price of money. We have had discussions both in and out of Parliament with the bankers of this country and the Minister for Finance seeking to have the price of money, credit and the interest rates come down. There are measures which the Government is capable of taking to bring down interest rates. This is a very lethargic and reluctant Government when it comes to the rights of the common man. The banks are charging hefty rates of between 25 per cent and 30 per cent while giving between 10 per cent and 15 per cent to depositors. The margin between the deposit rates and the rates charged is just too wide and it is a reflection of the inefficiency of the operators of these banks or alternatively the greed with which they want to operate. There is no small bank in Kenya these days. Last week, I read in the newspaper the half year results of banks. These are in terms of billions and billions of shillings. It is an embarrassment when a bank says that it did very well when it has literally been stealing from mwananchi . This theft extends to Government Funds that are designated for the poor namely the Women Enterprise Fund and the Youth Enterprise Fund. The Youth Enterprise Fund has funds designated for particular areas at particular interest rates. The banks which have been favoured to carry out these programmes are stealing from"
}