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{
    "id": 374785,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/374785/?format=api",
    "text_counter": 485,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker. Before I move the Bill, I want to report progress pursuant to Standing Order No.127 (5) regarding the Report that should accompany this Bill from my Committee. We are working on the Report. The Bill came to us together with many other Bills including the VAT Bill, which has attracted a lot of public interest and participation. I will table the Report before next week. I am ready now to move the Bill. Hon. Temporary Deputy Speaker, I beg to move that the Capital Markets (Amendment) Bill be now read a Second Time. This Bill, as the title indicates, seeks to bring amendments to the Capital Markets Act. We know that our capital markets have grown tremendously in the last ten years. I want to thank our immediate former President for giving our capital markets freedom to trade at that time. In the last ten years, many Kenyans have come to know about the capital markets. They never used to know them because they were operating in a very secretive manner. In those ten years, Kenyans participated in the processes by investing in shares, for example, KenGen and Safaricom. Kenyans now have a clear understanding about capital markets. This country can only develop if we have an efficient capital market, where those who are in need of money for investment can go and source the same and those who have money to invest can make it available; a market in which people will have a lot of confidence because it is well regulated. The last ten years have brought about serious challenges, requiring the Capital Markets Authority (CMA) to address them. I talk of challenges and opportunities because challenges come together with opportunities."
}