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{
    "id": 632538,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/632538/?format=api",
    "text_counter": 245,
    "type": "speech",
    "speaker_name": "Hon. Kabando wa Kabando",
    "speaker_title": "",
    "speaker": {
        "id": 31,
        "legal_name": "Kabando wa Kabando",
        "slug": "kabando-kabando"
    },
    "content": "I remember I brought an amendment here which was seconded by the Member of Balambala, Aden Abdikadir, to amend the CBK law in order to allow for lower denominated transactions in Treasury Bills. I remember, Hon. Temporary Deputy Speaker, you were on the Chair that day. You lauded the contributors of that Motion and said that they had researched very well. Indeed, we had, as a team. That amendment was rejected by the President on the promise that within a few weeks in July 2015, an M-Akiba would be launched. It is now almost a year and we only had merry go rounds around the Treasury and the State Law Office. This country needs to be liberated from mandarins and sharks who are suffocating the bureaucracy and who are also sabotaging legislative initiatives. That said, I have even spoken to the President about this and I even posted about this particular matter last Wednesday, but one. Subsequently, I spoke to the Executive including the CEO of the country that we need to have bold initiatives. Today, as a Member of Parliament, even though I am very sceptical as to whether this law will be assented to, and although we also need to promote a free economy, free enterprise and competition, we do not want to close, so that people go to sharks and shylocks to start lending them because they have been closed from the formal financial sector. At the same time, we need to appreciate that banks are selling people’s properties. I have been speaking to various senior people in this country in the banking sector and banks are selling properties because people are unable to service their loans. Therefore, actions need to be taken. Last but not least, the greatest interest rates in this country are on corruption. We are being escapist and trying to go soft. We are now turning our institutions into a shame because it is very expensive to do business and even procurement in Government departments. This is because of a few people who are exploiting the bureaucracy and suffocating the entrepreneurship capacities of the indigenous communities in Kenya."
}