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{
    "id": 34168,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/34168/?format=api",
    "text_counter": 450,
    "type": "speech",
    "speaker_name": "Mr. Lekuton",
    "speaker_title": "",
    "speaker": {
        "id": 66,
        "legal_name": "Joseph Lemasolai Lekuton",
        "slug": "joseph-lekuton"
    },
    "content": "Madam Temporary Deputy Speaker, I want to be brief because I want many Members to contribute. When the East African Community collapsed workers lost all their savings. Those savings are in this country, but they cannot access it because there is no law that will make them get that money back. That Question was raised by Mr. Yakub. I am sure the Office of the Deputy Prime Minister and Ministry of Finance is aware of that. We have new technologies. I can have money in this phone, M-Pesa, and I get hit by a bus, who knows I had Kshs20,000 in my M-Pesa account. The technology industry is so fast that we have to make laws that will catch up to their speed. So, we also need to regulate because many Kenyans have money in M-Pesa accounts that people have died and no one knows. That is why I am saying we have to protect our citizenry. The story of Donde is just one. During the Safaricom IPO, thousands of Kenyans applied. However, many of them could not get those shares because it was oversubscribed. Safaricom had to refund money to them. Between the six weeks of application and the refunding period, over Kshs200 million was stuck in financial institutions because owners could not be traced. That is just one incident. Let us think about many more like that in our country."
}