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{
    "id": 864278,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/864278/?format=api",
    "text_counter": 436,
    "type": "speech",
    "speaker_name": "Sen. Orengo",
    "speaker_title": "The Senate Minority Leader",
    "speaker": {
        "id": 129,
        "legal_name": "Aggrey James Orengo",
        "slug": "james-orengo"
    },
    "content": "Therefore, investments like this through savings are not only important for the national economy but also important for individual citizens who contribute to these funds. It is critical, especially in Kenya where we are borrowing, because we cannot raise enough revenue. We borrow locally. We are now going to borrow from China under some very strenuous circumstances; borrowing under the instruments of sovereign bonds which put the country and the economy through a lot of stress. The cheapest money that the Government could have made access to and it is competing for this money with the business sector is such pension funds. I want to say this without fear of contradiction that in Kenya today, there are people who are making money through plundering such funds, having access to the National Treasury and doing businesses through procurements that are done in a very unsavory way. If you look at South Africa and the fall of the former President, if he was still the President - I would not cite his name because that would go against the Standing Orders - a lot of things being said about the deep state in South Africa are about raiding funds and assets of public institutions. The President and the President‟s men in South Africa were once such a lot."
}