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{
    "id": 507002,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/507002/?format=api",
    "text_counter": 355,
    "type": "speech",
    "speaker_name": "Hon. Maanzo",
    "speaker_title": "",
    "speaker": {
        "id": 2197,
        "legal_name": "Daniel Kitonga Maanzo",
        "slug": "daniel-kitonga-maanzo"
    },
    "content": "will also make advertisements, young people will invest in the Bills and they will be able to lend money to Kenya. This will reduce our international debt. As hon. Kabando wa Kabando said while he was moving this Bill, you have a lot of monies which can be collected locally. You have a lot of monies held in Mpesa . You have a lot of monies now which are not even sitting in the banks. We also have other smaller savings in many banks that we have in the country. These monies can be pooled to an investment by young people. We recently gave Uwezo Fund all over the country, in every constituency. In Makueni, we distributed Kshs20 million to a lot of youth groups, young cooperatives and young SACCOs. Part of their investment, some of them are doing table banking and they could now save together as a registered group or registered SACCO and end up buying together Treasury Bills. We have the Women Enterprise Development Fund, which has distributed money to many women. Many women are beginning to do business with this money. We also have the Youth Enterprise Development Fund and SACCOs. Individuals also invest in the SACCOs or what is popularly known as chamas where people come together once a month and put some money together. If individuals can put their savings into the Central Bank, then, we will have a very big base of cash running into trillions. Then we will begin utilising the money which is idle in the country. The haves will begin to take care of the have-nots in the country, who are the majority and who feel that nobody takes care of them. This will bring hope in the young investors. They will go to the Central Bank of Kenya or their agent institutions and their money will be put there. These institutions will have good rules and regulations spelling out how the money will be taken care of. There will also be a methodology of recalling the money to ensure that bureaucracy does not frustrate such an investor as it happened in the past. When one wants to recover their investments when they have grown, it does not become a very difficult exercise to get back their investment. One will apply and within a reasonable time, they will get back their investments for further investment. Therefore, I would like to support this amendment Bill of the Central Bank of Kenya. The proposed Section 45 has come out very well. The Bank, in its capacity as a fiscal agent and banker to any public entity, may, subject to the instructions of the public entity or individual, have power to do a few things here and there, as has been elaborated in the proposed Bill. Therefore, we will bring hope to Kenyans. Many young Kenyans want to trade. They are quick on Mpesa . They are also busy on the Facebook and other social networks making comments and the information moves very fast. Kenya is now leading in the Mpesa business in the region. We have done very well in Mpesa and it has come out very well. It has made the economy efficient. If you look back ten years ago when we did not have mobile phones, it did not seem like one day, mobile phones could be useful as an instrument of communication. Communication has become very fast, which does not only include talking alone. We now have money communication through"
}