Hon Anthony Kimani Ichung'Wah

All parliamentary appearances

Entries 2611 to 2620 of 3232.

• 9 Feb 2017 in National Assembly: Just as Hon. Jakoyo has said, I am consistent in television and radio debates, because I articulate issues which relate to Kenyans. I also take a lot of interest in what others say both in this House and even on television. Last night, I heard the Chief Executive Officer (CEO) of Equity Bank, James Mwangi, buttressing a threat to Kenyans that they will not continue to access credit from commercial banks because they prefer lending to Government which is risk free lending. view
• 9 Feb 2017 in National Assembly: We cannot have a situation whereby Kenyans are unable to access credit. Hon. Jakoyo has addressed issues concerning loss of jobs and inaccessibility of credit. Members of Parliament (MPs) who have been to their constituencies will tell you that everywhere Kenyans are complaining that there is no money in their pockets. That is why some MPs are getting it rough back in the villages. Money circulates in the economy because people are able to access credit to put it into investments which create jobs and wealth. view
• 9 Feb 2017 in National Assembly: Therefore, if there is sector in this country which is sabotaging the growth of the economy it is the financial sector. This Bill comes at a very appropriate time to allow many of these financial institutions to take alternative securities other than just the fixed assets. Many of our youth and women do not have land which they can use as collateral to access credit facilities. But with this Bill they will be able to use those other moveable securities which they have. Think about the boda boda riders who are all over the country. They cannot use their motorbikes ... view
• 9 Feb 2017 in National Assembly: More importantly, is the issue which has been raised on accessibility to credit. I also want to submit that we will never bring down the cost of lending if the Government does not reduce its level of borrowing from the domestic market which is surprising. I will be bringing legislative proposals which I confirm are already going through due process in this House to check on the level of borrowing which the Government does from the domestic market. view
• 9 Feb 2017 in National Assembly: This morning in one of the engagements of my committee, the Public Investments Committee (PIC), we had a conversation with a parastatal CEO who confirmed that they are holding about Kshs600 million in a fixed deposit account, in one of the commercial banks, and are getting an interest of about 6 per cent. At the same time, the National Treasury is borrowing from the commercial banks at a rate as high as 13 per cent. It is not possible for any commercial bank to get money from Government through parastatals at 6 per cent and lend it back to Government ... view
• 9 Feb 2017 in National Assembly: anywhere in the world which will opt to lend to the private sector at 14 per cent if they can lend to Government at 13 per cent. view
• 9 Feb 2017 in National Assembly: One of the other things we should look at when amending this Bill is capping interest which will be payable by the Government on Treasury bills and bonds. For instance, we should cap anything below 10 per cent on amounts which Government borrows for the 90 days Treasury bills. If we are to use T-bills and bonds to regulate the money market economy, maybe what it borrows for 30 days and below can be up to 13 or 14 per cent. But beyond 90 days if we are able to cap it to less than 10 per cent, then banks ... view
• 9 Feb 2017 in National Assembly: I support this Bill because it is very timely and will allow many Kenyans to access credit. Also the other issues which have been raised on other financial institutions charging interest much higher than what has been capped by this House is illegal. I want to support Hon. Jakoyo that a class suit was instituted against many of these financial institutions. In fact, I have been looking for people who are willing to go to court and I will support them especially regarding microfinance institutions, banks and SACCOs. Many of them assume that they are not under the ambit of ... view
• 9 Feb 2017 in National Assembly: With those many words, I beg to support. view
• 9 Feb 2017 in National Assembly: Sorry, Hon. Temporary Deputy Speaker, I changed position. view