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{
    "id": 507015,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/507015/?format=api",
    "text_counter": 368,
    "type": "speech",
    "speaker_name": "Hon. King’ola",
    "speaker_title": "",
    "speaker": {
        "id": 2328,
        "legal_name": "Patrick Makau King'ola",
        "slug": "patrick-makau-kingola"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker for giving me this chance. I rise to contribute on the Central Bank (Amendment) Bill, National Assembly Bill No. 32 of 2014 by hon. Kabando wa Kabando. I must from the outset say that hon. Kabando wa Kabando is still advancing his talent of working for the common Kenyan. This Bill, upon its amendment in Section 45, seeks the lowering of the minimum investment amount and allowing Kenyans to trade electronically. I want to compare this with how the Mpesa was welcomed to this country by Kenyans. If you look at Mpesa, it is only a clearing and forwarding agency and you can see how Kenyans have registered with it. Now, if this amendment comes into being, and Kenyans know that they are going to invest in the Treasury Bills and Bonds, where they will get some interest, I think it will go viral. So, this amendment is very important for Kenyans. In addition and when you compare with nations surrounding us like Rwanda, Uganda and Tanzania, you will realise that the Kshs50,000 put by the Central Bank of Kenya (CBK) as the minimum investment amount, it seems that it is a reserve for the rich. We have been addressing the marginalized groups who include the youth and women of this nation. If we give a chance to Kenyans who are very ambitious, we will have so many Kenyans. In fact, hon. Kabando, I wish you could even suggest a figure. If we can have Kshs10,000 or Kshs15,000 per person, I think as a nation we will even have enough money that we can borrow domestically and we are obviously going to avoid so much external borrowing. This is going to promote internal trade. 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."
}