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{
    "id": 493521,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493521/?format=api",
    "text_counter": 222,
    "type": "speech",
    "speaker_name": "Hon. Barua",
    "speaker_title": "",
    "speaker": {
        "id": 1529,
        "legal_name": "Ejidius Njogu Barua",
        "slug": "ejidius-njogu-barua"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker, for giving me this opportunity to contribute to this important Bill, which from the outset, I support. I would like to support this Bill for several reasons. First, it is timely. Secondly, it is going to give the investors of all calibers, both small and big, an opportunity to get the most important information required in investments. One of the biggest aspects of an investor is the ability to take risks. Investments are about taking risks while hoping to get benefits from them after some time. The risk that we are talking about is what is called calculated risk. At the moment, most investors, both small and big, are investing in a risky environment and they are taking risks which they do not understand. So, this particular Bill is going to secure and protect investors and give them the right knowledge, which is important for proper investments. In other words, I want to put it to the House that the issue of risk taking propensity is going to be well taken care of. Many people, including some in this House, have lost money through risky investments. The investments which have been there in the past have not been under the protection of the law. In my opinion, this Bill is going to give the right investment information based on the amount of money which one is going to invest. In other words, information on market segmentation and diversification is very important. Many people have lost money because of being enticed by people who promise to double or triple their money. At the end of the day, we end up losing money and income for families. This is the first time that we are going to have families and individual investors protected from those quacks and rogue companies, which are not professionals. This Bill is going to improve professionalism in the investment sector. People who have some money to invest in this country will invest in confidence because there is a bigger possibility of getting returns. I would also like to mention organized security regime. When that regime is organized, we are going to have people from far and wide - international investors - investing in this country. This Bill is going to increase investor confidence and support our economy. The standard of professionalism is very important. It is what can give people confidence in what they are doing. This issue of certifying stock brokers and others is very important. In the past, this has not been happening. This Bill will also ensure that there are reduced incidences of money laundering. In the past, people have invested money from sources which are not known. By so doing, money laundering has been very rampant. This Bill is going to curtail that and help this country to reduce the extent of money laundering and protect Kenyans from loss of their property. With those few remarks, I support this Bill. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}