Chrisantus Wamalwa Wakhungu

All parliamentary appearances

Entries 2321 to 2330 of 3399.

• 18 Aug 2015 in National Assembly: I am also very disappointed because of the amendment of the Banking Act. Increasing the minimum capital requirement for the banks from Kshs1billion to Kshs5billion within that timeframe is completely out of order. I am disappointed because we have been involved in many occasions--- I have met elders from our western region led by nominated Member Mzee Wangamati. They have been trying as much as possible to come up with their own bank. They have tried in the last five years. They have Kshs100,000 and the intention of raising Kshs1 billion. If you are going to increase the capital requirement ... view
• 18 Aug 2015 in National Assembly: Thank you, Hon. Deputy Speaker. I am hoping that Hon. Langat is listening to the issue of the increment of minimum capital for the banks. He is the Chairman of the Committee. We will resist this. I will bring an amendment, so that we can retain that amount. When you have many players in the industry, obviously the forces of competition are going to The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor. view
• 18 Aug 2015 in National Assembly: force--- We are going to have lower interest rates. We know banks in this country are exploiting the business community. They are killing the spirit of entrepreneurship, because their interest is very high. If we are going to increase that threshold and maybe block others from entering this sector, we are going to minimise competition. Interest rate is not going to be minimised. It will kill entrepreneurship, especially of the youths, because as they leave universities and colleges, they must have money to start businesses. For them to have money, they must borrow from the financial institutions. view
• 18 Aug 2015 in National Assembly: We have passed the law on procurement and we talked about the 30 per cent of tenders to go to the youth, women and people living with disabilities. His Excellency the President mentioned clearly that we want the 30 per cent of business to go to the youth, women and people living with disabilities. Where are the youths going to get the money to do business? They must borrow from banks. If banks are going to be few, obviously interest rates will be higher. So, as we move on; I will talk to the Chairman, so that we can have ... view
• 18 Aug 2015 in National Assembly: I was happy about tax rebates, especially to university graduates. We know very well that it is very difficult for many university students to get jobs after they complete their studies, because they do not have experience. Many organisations and employers do not want to employ them because of lack of experience. In the learning curve, experience is critical. If you are a fresh graduate from the university, it is very difficult to get a job. So, coming up with tax rebates is going to encourage employers to employ university graduates and the youth. Research has shown that 70 per ... view
• 18 Aug 2015 in National Assembly: distribution, it is a stumbling block. People quarrel and they do not have money to pay. This exemption will encourage young people who invest in groups, because they cannot afford to invest individually, to invest in real estate and become good entrepreneurs; they can get value for their money. I thank the Chairman for all that has been put here, but we need to examine it further when it comes to the Committee of the whole House. We want to propose some critical amendments, and it will be good for the Committee to invite us to the Committee, so that ... view
• 18 Aug 2015 in National Assembly: Unless tax money is paid, the Estimates are not going to be useful. I thank the Committee for work well done, but, please, they should pull up their socks and be as quick as possible; let that report be tabled even if it is tomorrow, so that Members can look at it and debate this Bill from an informed perspective. Otherwise, I thank you for this chance and I support. view
• 6 Aug 2015 in National Assembly: Thank you, Hon. Deputy Speaker. This is a serious matter. We want to condemn any form of discrimination, whether it is based on religion, gender, tribe, colour or whatever the case. As you clearly put it, what Hon. Sakaja has said is true. It falls under that Committee. However, we have the bigger picture of the schools. I encourage my brother to work jointly with the Departmental Committee on Education, Research and Technology because we have seen other cases of discrimination which come in the form of disciplinary cases to do with a student or pupil. Let us have a ... view
• 6 Aug 2015 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. I just want to add my voice to this Bill which I support. It will be very nice for the nominations to be done before the committees are constituted. I remember last time the nominated MCAs came in after the committees had already been constituted and this caused a lot of acrimony. This is a good amendment. Again, their nominations go to political parties. Maybe we should look further at the Political Parties Act for purposes of harmonisation and consistency. Otherwise, I support. Thank you. view
• 5 Aug 2015 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. First and foremost, I want to thank the Leader of the Majority Party for bringing this aspect. Maybe, it should be expunged because you are referring to Article 251 of the Constitution which talks about the removal of commissioners as opposed to Article 255. Initially, you referred to Article 251 of the Constitution, but the issue here is about Article 255. It is very clear on matters that we can go for a referendum. I know that there is an indication of the change of the term of the President, which is under that ... view