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{
    "id": 676877,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/676877/?format=api",
    "text_counter": 121,
    "type": "speech",
    "speaker_name": "Hon. Bunyasi",
    "speaker_title": "",
    "speaker": {
        "id": 2511,
        "legal_name": "John Sakwa Bunyasi",
        "slug": "john-sakwa-bunyasi"
    },
    "content": "Thank you, Hon. Speaker. We are just at the beginning of the process. The warehouse receipts system provides instruments that transfer the risk to the principal actors in the private sector. Whereas Government stands to guarantee it, it enables risk to be shared by those who are directly involved in it. For the agricultural system, this will be one of the most powerful instruments that will enable us reach a point at which the systems that handles a particular produce will enable other actors, like processors, have the confidence that the market is wide enough. It will also ensure that the products and goods are in a domain which you can assess. It will be clear how much of the goods are there; for how long they are there and how they move through the process. It is also a system in which other intermediaries, for example, the financial sector, assess the reliability and quality assurance in respect of the output that passes through the market. The provisions in the Act will provide the confidence the financial sector will intervene. We have lauded institutions involved in processing, for example millers. Mumias Sugar Company was lauded for years for directly providing credit to millers. Other handlers like the National Cereals and Produce Board (NCPB) have not developed this instrument. They have relied exclusively on funding from the National Treasury. The Bill enables Kenya to move in that next line of responsibility by helping the financial sector to participate in the risk-taking. I strongly support the provisions of the Bill. I hope that as Members debate and look through this, we can support the Bill and enforce it."
}