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{
    "id": 435384,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/435384/?format=api",
    "text_counter": 172,
    "type": "speech",
    "speaker_name": "Hon. Nyenze",
    "speaker_title": "",
    "speaker": {
        "id": 1987,
        "legal_name": "Francis Mwanzia Nyenze (Deceased)",
        "slug": "francis-mwanzia-nyenze"
    },
    "content": "Hon. Speaker, thank you. I will speak louder so that hon. Members can hear. We do not want taxpayers to lose any more money in future and this Parliament, the National Assembly, is the watchdog. So, the small amendment that I would want is on Clause 4(a). It excludes the requirement that if any amendment to the agreement to obtain a loan is prejudicial to the borrowing entity, then it shall be approved by Parliament. The Committee should take it very seriously that Parliament has to approve any borrowing that is prejudicial. There are other clauses that worry me a bit and if they can be improved and fine tuned by the Committee, this will be a very good Bill. The donors are suffering from what we call “donor fatigue”. There is not enough money to give to everybody. So there is competition globally to borrow from international sources. It is better if we make it possible and easier for Kenya to borrow money but put those safeguards in place that I have outlined by trying to change those clauses. If we keep borrowing locally, we will stifle business because local entrepreneurs are borrowing. There is not much money in the market. The Government is borrowing and the interest rates shoot up making business very difficult in this country. It is easy to borrow from other countries than it is in Kenya. If you borrow a loan here, the interest rate is very high the reason being that the Government does not borrow money from external sources very easily. The reason why I support this Bill is that there will be a bit of ease. There will be more money to borrow as business people and the economy should grow. I also want to talk about the exemption of external securities from the requirement in Sections 53 and 55. That may reduce the information available to the public. We do not want the public to be unaware of how much debt or how much is being borrowed because that will create room for corruption. We have to change Sections 53 and 55 so that information is readily available to the public and if they are committed, they will know the burden that will be put before them. I also want to say that the issue of Anglo-Leasing could not have happened, if there was transparency and accountability. It is surprising that up to now, and as we talk about billions to be paid, there is no single prosecution. Nobody is in jail for committing this country to pay such huge amounts of money. The irony of it is that, if someone steals a chicken, a cow or a goat in the village, the lynch mobs get them and burn or kill them on the spot. But if someone steals billions, he or she is the one who receives glory in public rallies. He or she is the one who walks tall because they can buy justice. This has to change. I think this Bill has tried to guide us so that this country does not lose money as it lost through Anglo-Leasing scandal. I support this Bill and just want to urge every Member to do the same because Kenyans are watching. Do not support the payment of Anglo-Leasing. Please stop it and refuse it. Thank you, hon. Speaker."
}