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{
    "id": 579106,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/579106/?format=api",
    "text_counter": 187,
    "type": "speech",
    "speaker_name": "Hon. Mwaura",
    "speaker_title": "",
    "speaker": {
        "id": 13129,
        "legal_name": "Isaac Maigua Mwaura",
        "slug": "isaac-mwaura"
    },
    "content": "Big banks want to make profit. And, they do not seem to target new and emerging markets. A lot of segments of our economy are informal. If you are to tap this kind of money into the mainstream economy, then you need to ensure there are options in terms of banking and starting banks. Many people are going into SACCOs and entities that seek to create more opportunities for them to have avenues to bank. At some point, I was involved in the creation of a bank called “Mega,” but I do not think it went far. It had aspirations of trying to bring on board people who could not access credit. If you look at the case of M-pesa, last year we transacted over Kshs1.3 trillion on that platform. It is a clear indication of the fact that a lot of people, if brought to the formal economy, will contribute towards raising of revenue and taxes for this country. The best way is not just to ensure that you raise the capital base for banks. 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."
}