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{
    "id": 582395,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/582395/?format=api",
    "text_counter": 187,
    "type": "speech",
    "speaker_name": "Hon. Midiwo",
    "speaker_title": "",
    "speaker": {
        "id": 184,
        "legal_name": "Washington Jakoyo Midiwo",
        "slug": "jakoyo-midiwo"
    },
    "content": "Thank you, Hon. Temporary Deputy Chairlady. I move that Clause 43 be deleted for the following reason. I have a lot of interest in the way banks are helping or not helping in the development of this country. The import of this particular clause is that the minimum capital requirement to create a new bank will be moved from Kshs1 billion to Kshs5 billion. What it effectively means is that only the existing banks shall prosper and become a class that is a monopoly. I only wanted to point out that, because we are in Third Reading and not debating. Because of the economic improvement and gains that we are getting as a country, there are so many SACCOS in the counties and across the country. It is only important and fair for this House to give them a chance to become a fully-fledged bank which can take deposits, give loans and do the normal banking activities. I beg to move and ask my brother to second."
}