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{
    "id": 904307,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/904307/?format=api",
    "text_counter": 46,
    "type": "speech",
    "speaker_name": "Sen. Mwaura",
    "speaker_title": "",
    "speaker": {
        "id": 13129,
        "legal_name": "Isaac Maigua Mwaura",
        "slug": "isaac-mwaura"
    },
    "content": "I know of someone who in the normal manner of asking for help form Members of Parliament has borrowed money from fuliza, tala and many other lending apps in the social media. These debts are pushing some of them to the wall. They cannot even afford to buy food or do anything beneficial to them because they have over-borrowed from these apps. It is not right for some people to make huge profits from the misery of our young people because they are the ones who are tech savvy and easily access this kind of money. We, as a House, need to seriously relook into this matter and find a lasting solution. We do not need to re-invent the wheel because the CBK monetary policies and regulations by the Capital Market Authority (CMA) can rein in these new transactions. We need a rethinking of our monetary system, so that we do not allow sharks to make huge profits from gullible Kenyans. These money lenders are looking more like formal shylocks. In fact, they are worse than shylocks because they are mortgaging lives of Kenyans. We cannot discuss national debt without addressing the domestic and individual debts."
}