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{
    "id": 493551,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493551/?format=api",
    "text_counter": 252,
    "type": "speech",
    "speaker_name": "Hon. Nyenze",
    "speaker_title": "",
    "speaker": {
        "id": 1987,
        "legal_name": "Francis Mwanzia Nyenze (Deceased)",
        "slug": "francis-mwanzia-nyenze"
    },
    "content": "Hon. Temporary Deputy Speaker, I think hon. A.B. Duale was trying to play around with my position here. I just want to tell my friend, hon. Abongotum that I am not reading word for word. I am only referring to my written notes. I do not want to deviate from the subject or dwell on other irrelevancies. I want to go directly to what I was saying. This Bill has come at the right time when there is an appetite for investments in Africa. So many companies are coming to Africa because of the new discoveries of mineral resources that we have. This Bill has come at the right time so that it can regulate the investments sector. Anything that deals with regulation of capital is very ideal at this time. Kenya, like many African countries, lacks the infrastructure for investment. Those countries that have invested heavily in infrastructure and in financial management are the ones that are attracting a lot of foreign direct investments. If you look at Rwanda, which is a small country with very few resources compared to Kenya, they have a one-stop shop. If you want to start a business there, within a week, you can apply, be guided and start business. In this country, you would take years. This Bill seeks to streamline the investment climate given that the financing capacity of our Government is limited because of devolution. A lot of money has been sent to the counties. To engage in those mega projects will be a challenge for this Government or any other government. Funds will not be enough to run some of the projects that the Government wants to do so as to become a middle income country by 2020."
}