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{
    "id": 632515,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/632515/?format=api",
    "text_counter": 222,
    "type": "speech",
    "speaker_name": "Hon. Oyoo",
    "speaker_title": "",
    "speaker": {
        "id": 2408,
        "legal_name": "James Onyango Oyoo",
        "slug": "james-onyango-oyoo"
    },
    "content": "Thank you, very much, Hon. Temporary Deputy Speaker. I am happy that after a long wait in the queue, I am able to speak to this important Bill. From the outset, I want to take the opportunity to thank my good friend, the Member for Kiambaa, the most highly priced constituency for the Bill. The owner of this seat currently is a practical person because he is talking from experience. He inherited a very expensive constituency and he did not pay the price tag that his predecessors had paid. Therefore, this may have informed his interest in making sure that bank interest rates are lowered and are affordable to the citizens of this country. This Bill intends to enhance business capacity of Kenyans. It is one that people who mean business and serious colleagues with the interest of their constituents at heart will not go against. I am only sorry that we are speaking to a Bill that had come to this House and was passed. What is the indecision? The problem with this Bill is that it is likely to transgress, speak ill or cut across the interest of some top leaders in this country. I remember when the retired President Moi was supposed to assent to it and for reasons many people do not know, he was not able to put pen to paper on it. People thought it was because of interference from external and internal forces. Truthfully, most of our leaders are businessmen. When you bring the interest rates down and they are bankers, it is going to interfere with their business interests. As much as some of the President’s advisers could be bankers, we plead with them in the interest of the public majority, this Bill is coming at a very good time when the economy is not performing very well. Kenyans cannot get employment because the economy is not performing well. Life has become unbearable such that we are now encouraging young Kenyans to go into entrepreneurship. You cannot do business without access to a bank loan. Access to a bank loan would mean you are ready to afford the cutthroat interest rate that is charged today. Our rulers must be very sensible. Those who were in positions of responsibility when Kenya attained Independence were serious nationalists. That is why President Jomo Kenyatta found it wise to buy the National and Grindlays Bank that later came to be the Kenya Commercial Bank (KCB). He later acquired other banks that now form the National Bank of 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."
}