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{
    "id": 959792,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/959792/?format=api",
    "text_counter": 196,
    "type": "speech",
    "speaker_name": "Mwea, JP",
    "speaker_title": "Hon. Josphat Kabinga",
    "speaker": {
        "id": 13441,
        "legal_name": "Josphat Kabinga Wachira",
        "slug": "josphat-kabinga-wachira-2"
    },
    "content": "Therefore, I am asking the CBK officials to support Wanjiku because that is why they are there. As they support the banks, they must first and foremost know that they are there to support the business communities and Wanjiku who is not well educated to go through that statement to understand it. It is ridiculous when somebody borrows Kshs10,000 and ends up paying kshs20,000. That is not developing a country but killing it. I have seen cases where people borrow Ksh200 million for business and they end up paying Kshs150million out of that loan. Because they are unable to do so, they end up being auctioned or they struggle to pay in their life time. This is something that needs to be looked at. As much as we embark on the law, if we do not embark on civic education, our people will continue losing money through ignorance. I know that they are not ignorant, but they need more education so that they can understand their statements. Finally, the threats issued by banks that this is a bad law are not genuine. All they should do is to reach out to the larger community. Kenya is growing in terms of population every day. If banks are innovative enough, they will tap a lot from the growing population of the country."
}