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{
    "id": 947390,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/947390/?format=api",
    "text_counter": 171,
    "type": "speech",
    "speaker_name": "Sen. Malalah",
    "speaker_title": "",
    "speaker": {
        "id": 13195,
        "legal_name": "Cleophas Wakhungu Malalah",
        "slug": "cleophas-wakhungu-malalah-2"
    },
    "content": "son. Once the child is thrown out of school, he will be dragged into issues of crime and lawlessness. Drug and substance abuse will be on the rise. The mother on the other hand, being unable to service her credit facilities from the ever mushrooming micro-finance companies, will be met by auctioneers. Her blood pressure and stress levels will go up and yet she will not be able to pay for her medication. If we allow these massive business closures and job losses, we should also be ready to shoulder massive cases of depression and suicide as a country. If as a country, we shall allow rampant business closures, in the not so distant future we shall be pushed into astronomical borrowing by the national Government and over reliance on the national revenue by county governments. This situation will most certainly halt the development agenda. This is a dangerous path for our country. Mr. Deputy Speaker, Sir, the country’s general rating as a desired destination for foreign investors is also falling hence resulting in being blacklisted by most international companies as harboring an unfair business environment. Other lightweight economies within our region have already been earmarked as favorable investment destinations. These closures of businesses have a very high potential of impacting negatively on the economy both at micro and macro levels if left unabated. The closure of betting companies for instance, has resulted into a decline in Government tax revenue and those companies will terminate all investments in sports in Kenya. Local football has already lost sponsorship worth Kshs600 million. Mr. Deputy Speaker, Sir, some of the companies that have laid off their staff this year include- 1. Stanbic Bank; over 200 employees were given voluntary retirement. 2. East Africa Portland Cement; all staff declared redundant. 3. Kenya Airways; 38 employees were laid off. 4. Finley Flowers in Kericho; at least 1,700 workers lost jobs. 5. Nakumatt; 800 out of approximately 4,000 employees lost their jobs. 6. Nestle Kenya; over 100 employees lost jobs. 7. Unilever Tea Kenya sent 11,000 employees to voluntary early retirement. 8. Sportpesa sacked over 400 employees recently 9. Securex Company; 222 employees were rendered redundant. Mr. Deputy Speaker, Sir, this is a sad state of affairs. As a country, we must delve more into the root causes of these closures and urge the Government to enact favorable economic policies for businesses to thrive. Our inability to create enough jobs for the youth graduating from colleges is immoral. Our enthusiasm to lay off the few who have been lucky to be employed is sinful. However, our reluctance to speak about this and chart the best economic course for our country will be the greatest social, political and economic massacre of our time. In the eyes of the common mwananchi, companies are not sending employees home. It is the Government that is sending employees home by creating a hostile environment for businesses to thrive. Thank you, Mr. Deputy Speaker, Sir."
}