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{
"id": 1583022,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583022/?format=api",
"text_counter": 345,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": " Thank you, Hon. Temporary Speaker for allowing me to add my voice to this very important Bill, the Virtual Asset Service Providers Bill. I want to congratulate all the Members of Parliament who have contributed to The electronic version of the Official Hansard Report is for informationpurposes only. A certified version of this Report can be obtained from the Hansard Editor."
},
{
"id": 1583023,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583023/?format=api",
"text_counter": 346,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": "the Bill. I want to confirm that I support the Bill. It is a forward looking and transformative piece of legislation. The world is growing very fast. It is becoming a small village and we cannot be left behind as a country. The young people of this country are very creative, innovative and passionate, and they are moving faster than us. That is why today I support the Bill. It balances the need to embrace technology and innovation with responsibility of safeguarding our financial system. Any investor will want to be assured of safety. He will want to know that his investment is well safeguarded. The Bill is providing that. As we know, Kenya is leading in many areas, especially in this region where we have been leading and we will continue to lead. We want to be always leading from the front and to be a good example to others. Once this piece of legislation is operationalised, we will set a good example in the region. We will continue to invest and encourage our young people so that we can grow as a country. The Bill enhances financial inclusion. That is what Kenyans want. Even if financial inclusion is there, we must make the Bill relevant to every part of this country. Some of our business people are not well educated and may not be exposed to technology. If we can do capacity building and create enough awareness on this Bill by educating Kenyans, it will be of great benefit to us as a nation. The Bill will streamline cross border remittance and drive digital investment. It is the only Bill that can promote our M-pesa today. We are already doing very well as a country and we are proud of our young investors who came up with the M-Pesa idea. As a result of that, even if you are in the remotest part of this country today, as long as there is good network, you can transact with M-Pesa and do business. Before, as politicians, we used to struggle because we could not always have enough cash. Today, with M-Pesa, you can easily do your transactions. You can access your money regardless of where you are."
},
{
"id": 1583024,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583024/?format=api",
"text_counter": 347,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": "We also know very well that Kenya has increased adoption and use of virtual assets, particularly in payments and investments. We need to promote and grow this so that, from the comfort of your house, you are able to transact business. Sometimes, even when business people are in hospital beds, they can do many things as long as they are in their senses, something that was impossible previously."
},
{
"id": 1583025,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583025/?format=api",
"text_counter": 348,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": "Our young people are very innovative, but the majority of them are unemployed. This Bill will give them hope and the opportunity to get employed. Our role is to make sure that we give every Kenyan an opportunity to know about this Bill and put it into action."
},
{
"id": 1583026,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583026/?format=api",
"text_counter": 349,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": "As I conclude, I echo Hon. Passaris' noble call to the nation. That is what we all need to do as a country. As I meditate on 25th June 2024, and putting into consideration what might happen tomorrow, my heart is troubled. As a mother to teenagers, and looking at the spirit that is in our nation, I sympathise with the young generation of this country."
},
{
"id": 1583027,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583027/?format=api",
"text_counter": 350,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": "I want to say that I know our young people are fighting for their rights, and the Government is giving the best to the nation. Our President is working day and night to revive our economy, and your parents are working very hard. Tomorrow, you might go to the streets and lose your lives. We will cry and mourn you. My humble request is that you look at the many ways you have to demand your rights and ask the Government what you want. You cannot say that you are tired. O our Government is listening, and as your parents and leaders, we are here for you. We are ready to listen and dialogue with you. Let us not lose more lives. Let us respect the rule of law and pray for this country. The electronic version of the Official Hansard Report is for informationpurposes only. A certified version of this Report can be obtained from the Hansard Editor."
},
{
"id": 1583028,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583028/?format=api",
"text_counter": 351,
"type": "speech",
"speaker_name": "Marsabit County, UDA",
"speaker_title": "Hon. Naomi Waqo",
"speaker": null,
"content": "We cannot afford to lose our country. God has always been there for us. We have enjoyed the resources that God has given us, and it seems like we are ready to destroy them. We cannot afford to do that. We love you and celebrate you, our young people. Unfortunately, we lost many people, but let us not lose more in the planned demonstrations. I pray that you will not be misled, that you will sit, reason, and see how best the Government can serve you. With those few remarks, I support the Bill. Thank you, Hon. Temporary Speaker."
},
{
"id": 1583029,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583029/?format=api",
"text_counter": 352,
"type": "speech",
"speaker_name": "Hon. Farah Maalim",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Hon. (Prof.) Nyikal."
},
{
"id": 1583030,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583030/?format=api",
"text_counter": 353,
"type": "speech",
"speaker_name": "Seme, ODM",
"speaker_title": "Hon. (Dr) James Nyikal",
"speaker": null,
"content": " Thank you, Hon. Temporary Speaker. I rise to support this Bill and give a bit of caution. Today, we talk of E-commerce, digital currency, virtual assets, and we are already doing virtual money transfers. We are setting up digital hubs in our constituencies to enable our young people to earn some income. The revolution in the economy and commerce is upon us, and our youth have deeply invested in this. They create TikTok videos digitally and receive their payments virtually. We cannot ignore this revolution. The reality is that some individuals are involved in the digital assets market as both providers and consumers and are earning from it. The sad bit about this is that we lack regulation in this sector. This trend is not going to stop anytime soon. I support this Bill because it provides for the regulation of the sector. The CBK has cautioned us about these virtual assets but has not deemed them wrong. This Bill establishes a regulatory framework, identifying the necessary authorities, though many of us feel we need to set up a specific authority. We can discuss this further in the Committee of the whole House. The Bill also outlines licensing requirements, detailing who does what, where, and how, which is necessary. It addresses the risks associated with cyberspace, such as money laundering, financing terrorism, fraud, data protection, and cyber security. Hon. Temporary Speaker, we live in a country with two layers of people. Some people are left behind. Public education is extremely important in this area. My mother and peers, and even some of us, are not engaged in the digital world. We need to bring them in. Even with regulation, this group remains at risk of being conned. We must educate them. Additionally, we need to ensure we have effective internet infrastructure. I am particularly concerned because I supported the University Funding Model in principle. Universities should be supported based on their numbers and courses. Where we went wrong is in lacking the internet infrastructure needed for means testing, which caused the incorrect bands. The Chairperson is present and I hope that we will put in place a proper education system for the public for these virtual assets. When we introduce these new ideas, we are not the target audience because we can educate ourselves. Our focus should be on the people in rural areas. How will they be connected and how will they benefit from this? Currently, we have issues in the social protection department with the elderly accessing their funds. We even provide them with phones, yet they still struggle to access their money. We need to educate the people from the ground up. This approach will take the country far. If we do not educate them, then this initiative will fail. If only a few people are using it, and even if they face challenges, interest will wane. The electronic version of the Official Hansard Report is for informationpurposes only. A certified version of this Report can be obtained from the Hansard Editor."
},
{
"id": 1583031,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583031/?format=api",
"text_counter": 354,
"type": "speech",
"speaker_name": "Seme, ODM",
"speaker_title": "Hon. (Dr) James Nyikal",
"speaker": null,
"content": "This is a good Bill and I support it. However, public education is key to its success. Thank you, Hon. Temporary Speaker."
}
]
}