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{
    "id": 914960,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/914960/?format=api",
    "text_counter": 195,
    "type": "speech",
    "speaker_name": "Kwanza, FORD-K",
    "speaker_title": "Hon. Ferdinand Wanyonyi",
    "speaker": {
        "id": 2065,
        "legal_name": "Ferdinard Kevin Wanyonyi",
        "slug": "ferdinard-kevin-wanyonyi"
    },
    "content": " At long last, Hon. Temporary Deputy Speaker! Thank you for giving me the opportunity. I have been waiting. I take this opportunity to thank Hon. Waititu for coming up with this amendment on the Law of Contract Act. It is very realistic. This is the most realistic amendment that we have had in this House. First and foremost, we know that we have almost 16.9 million Kenyans today who have no jobs. Therefore, we do not have to sit and wait. We must do something. Most people actually have ideas of starting businesses. It is as good as getting a job. I want to caution creditors, particularly commercial banks and shylocks. Before they give out money, they should know who is borrowing because the reality is that people are becoming very smart. One comes to you and convinces you he wants to do this or that business. You know that he is not employed and he is able to do what he has told you. So, as a bank or financial institution, you give out the money. At the end of the day, this man is unable to repay. What happens? Sorry cases. There are cases where people have lost title deeds. This has been said by many Members of Parliament here. Even families break up. Hon. Chris Wamalwa mentioned that and I quite agree with him. We have cases where people borrow to travel overseas. That is aimless borrowing. Then we end up having family break ups. Therefore, as we pass this amendment, we should go deeper and say that if one has to borrow and he asks you to guarantee him, include your spouses. Those guaranteeing people to borrow must have their spouses and families involved. They should also know who is borrowing because at the end of the day, if he borrows and disappears, what happens? The burden is kept to you. We have had cases like that. I personally have been a victim of such situation. I have lost three vehicles. One vehicle was sold because I guaranteed a guy who was smarter than me. I thought I was just being a man of the people and a leader in my constituency. I gave out money and the guy disappeared. I cannot find him. That is exactly what is happening today. I buy the idea of this Bill. We should not stop guaranteeing people who want to start businesses, but we should understand them. Commercial banks should understand what they are lending money for so that people can be disciplined. Another general thing is that Kenyans must be disciplined. We are not disciplined. That is the biggest problem. You must borrow for a good purpose. I did some business before I came to this House. I was a businessman. I borrowed to start a business. A business should have a balance sheet to show whether it is giving you returns. People who are not disciplined just borrow money for the sake of it. As we move further, let us also look at the realistic part of it. Kenyans must also be disciplined. Some people are actually tricksters. They trick you and disappear. I ask Kenyans to go to banks and other financial institution or friends to borrow money for a good purpose or do something that can give you good returns. I want to emphasise that creditors should also be smarter. Do not take it for granted. Sometimes, people come together because they want to default. Some people come to you for a loan not for a good reason, but because they are jealousy of what you have. So, borrowing from you and defaulting is one way of making you get punished. Therefore, let us be careful. I thank Hon. Waititu once again for coming up with this very realistic amendment Bill. I support it. The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}