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{
    "id": 435185,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/435185/?format=api",
    "text_counter": 404,
    "type": "speech",
    "speaker_name": "Hon. (Eng.) Gumbo",
    "speaker_title": "",
    "speaker": {
        "id": 24,
        "legal_name": "Nicholas Gumbo",
        "slug": "nicholas-gumbo"
    },
    "content": "Lastly, it is about the legal framework; without this amendment, the Government cannot do anything. We support the domestic bond markets and money markets in general. It is a known fact that Financial centres world over actually thrive on the very simple principle of differences in time zones. If there is one genius in the world who is still alive today, and who utilizes that principle in terms of governance, it is the founding Prime Minister of Singapore, a man I respect highly, Mr. Lee Kuan Yew. Just by placing Singapore between New York, London, Frankfurt, Zurich, and noting the time differences, Lee Kuan Yew, working with devoted Singaporeans created one of the strongest financial centres in the world. I think Nairobi’s geographical location is a natural magnet to establishing a financial centre of repute. Having said that, all these things will not come to anything if, at the end of the day, the money borrowed will not tackle problems that are truly currently affecting the people of Kenya. What are the real problems that we face today? The problems that we face today are youth unemployment, insecurity, food insecurity, high cost of living, unaffordable healthcare, unaffordable quality education, lack of water and electricity for all, and one indivisible and equitable nation. If we can tackle these problems, I believe that Kenya will be on its way to achieving what we envisage in vision 2030, and, maybe, do so earlier than the year 2030. Hon. Temporary Deputy Speaker, if we borrow and misapply resources, I think we will be going back to the same problems that have plagued our country for a long time. This is because ultimately whatever we borrow must be aimed at achieving a fair, but not a welfare society in Kenya. When you aim to achieve a welfare society, you basically look at entitlement. When you aim to create a fair society you look at the convergence of the entitlement plus effort. Effort and entitlement will only converge if every Kenyan truly has a sense of belonging; if every Kenyan truly believes that they have a stake in the future of their country. With those remarks, I support."
}