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{
    "id": 647738,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/647738/?format=api",
    "text_counter": 211,
    "type": "speech",
    "speaker_name": "Hon. Mulu",
    "speaker_title": "",
    "speaker": {
        "id": 1955,
        "legal_name": "Benson Makali Mulu",
        "slug": "benson-makali-mulu"
    },
    "content": "The last point and this is now generally a matter we need to think of as Kenyans, is in terms of management of our resources. When you look at financial management in this country so many institutions have different accounts in different financial institutions. For example, those of us who read the Chase Bank Report, you realise the Public Accounts Committee had already identified that Kshs180 million for the Youth Fund had been deposited in this Bank. I do not know whether this is good or bad but before the Bank collapsed, the people who claimed corruption had withdrawn the money. Why should we as a country have money in private banks when we have Government banks where the Government can deposit the money and borrow? As we move forward as a country, we need to think about a holding account in the Central Bank of Kenya so that even when we have these separate funds for different institutions, we have one central account where all our money can be and when there is need for these institutions to get cash, instead of borrowing from a bank. They can use the money and when the other institution is ready to use the money, they can then--- I know we collect money monthly. It is a very bad practice to see Kenyans’ money deposited in a bank like Barclays, Chase or Imperial. The same Government goes to borrow Government money from a private bank for development. You are actually borrowing your own money for development at a high interest when you earn very little interest to have the money in that bank. Kenyans need to think seriously about how to make sure that the money we have in this country is safe, and I believe we have enough resources. If we bring on board proper financial management, this country will benefit a lot and we will improve the standards of living of our people and they will appreciate that the Government is really taking care of them."
}