Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 315127,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/315127/?format=api",
    "text_counter": 283,
    "type": "speech",
    "speaker_name": "Eng. Gumbo",
    "speaker_title": "",
    "speaker": {
        "id": 24,
        "legal_name": "Nicholas Gumbo",
        "slug": "nicholas-gumbo"
    },
    "content": "Thank you, Mr. Temporary Deputy Speaker, Sir, for giving me the chance to support this very important Bill. I want to laud my colleague, Dr. Khalwale, for bringing such an important Bill to the House. Mr. Temporary Deputy Speaker, Sir, in my brief remarks, I want to say that those who engage in these schemes are actually criminals and they must be called by their proper names. I suggest that the penalties that have been proposed here may not be stiff enough and, maybe, at the Committee Stage, Dr. Khalwale may consider enhancing them. Mr. Temporary Deputy Speaker, Sir, it is not just those who engage in pyramid schemes who are fleecing Kenyans. I will be proposing an amendment at the Committee Stage so that even shylocks are included among those who rip off Kenyans. It is always difficult for me to understand when shylocks, for example, charge 30 per cent per month for money they give really illegally. What kind of business can one do to make 30 per cent profit per month? So, the issue of shylocking must be bundled together with these pyramid schemes and also be considered a crime. It is a pity that some of those people who were behind these pyramid schemes are now dead. These people should have been made to account for their sins and the crimes they committed on Kenyans. Having said that, it is important that where we are now we use particularly the public broadcaster, Kenya Broadcasting Corporation (KBC), to teach Kenyans some amount of financial literacy. The way I know it, there are only two ways of making money in this country. You either engage in trade or steal. When it appears that you are able to make money without doing anything, then there have to be a lot of question marks. I would also urge fellow Kenyans to avoid these get-rich quick schemes. We must understand that to make money in the legal way, one must drop a sweat or two. I remember one of the big pyramid schemes by the name of Deci was operating right behind my office in the mid 2000s. I would see many people, including those who were working for me, getting loans to go and put in this scheme. Some used to claim that if you put in Kshs5,000 in that scheme, then in about four weeks, it would have gone up five times. To me, it was an amazing amount of illiteracy. If there was, indeed, a way to multiply your money five times in a period of one month, then why would anyone need to work at all? So, some amount of financial literacy is necessary so that our people can avoid these get-rich schemes."
}