Chrisantus Wamalwa Wakhungu

All parliamentary appearances

Entries 591 to 600 of 3399.

• 19 Sep 2019 in National Assembly: It is the responsibility of the CBK to regulate banks and so the Governor of CBK should have gone to the banking industry and asked why that is happening. I tried applying for a loan and was told that I am politically exposed. You cannot be given a loan as a politician. The core business of a bank is to give money. It is not to keep the money in their safe. It is to advance money to the people so that people can use it and they get interest. view
• 19 Sep 2019 in National Assembly: In China they charge an interest rate of 2 per cent. Why? Are they performing miracles? The EXIM Bank that is giving us many loans charges low interest rates. So, the medium enterprises that are there can compete. If you are a contractor and you are borrowing money, they want to put it at 20 per cent. How will you make your profits? It will be very difficult. So, I am calling upon Hon. Members that we oppose this. If it is an issue of getting the two-thirds majority, I am suspecting His Excellency the President might reject it. This ... view
• 19 Sep 2019 in National Assembly: This is the time we must legislate. Article 93 of the Constitution says no one has the right to legislate except Parliament. We must do that for the interest of our people. The people in the banks are trying to block the entry. view
• 19 Sep 2019 in National Assembly: Last time we argued with Hon. Ichung’wah… As a community we have been trying to come up with a bank, but the capital requirement is excessive. So, the few people who own banks are trying to raise entry barriers. You cannot join the banking industry because it is lucrative, they want monopoly and right now they are merging to enjoy economies of scale. Recently we have seen the Kenya Commercial Bank buying out National Bank of Kenya. It is going to be number one both in assets and customer base. view
• 19 Sep 2019 in National Assembly: Secondly, we have the merger between Commercial Bank of Africa (CBA) and the NIC Bank. It is a big monopoly. So, we cannot allow few people to enjoy such benefits at the expense of the common Kenyan. Again you want to remove the capping of interest rate for them to continue making abnormal profits. This is unacceptable! We are here for the interests of the common Kenyan. There is a big gap in this country between the rich and the poor. So, this amendment of the Banking Act is tantamount to robbery with violence. In the industry, we have credit ... view
• 19 Sep 2019 in National Assembly: something we should not accept. When you quantify and calculate Okoa Jahazi, it is like robbing a bank. This is an abnormal profit they are making. view
• 19 Sep 2019 in National Assembly: We are here to protect the interests of the common mwananchi . So, it is the highest time we called the Governor of the Central Bank of Kenya. We need to know their agenda because of the conspiracies they are doing. As Parliament we are here for the interests of the common view
• 19 Sep 2019 in National Assembly: and we must reject this when the time comes. view
• 19 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. I support. view
• 18 Sep 2019 in National Assembly: Thank you, Hon. Deputy Speaker. I rise to second this Procedural Motion. It is true that today being a Wednesday morning, business is meant for Private Members. Because of the critical issue about funds going to the counties, it is in order that the House Business Committee decided that we must prioritise this Bill today. As we know very well, the Division of Revenue Bill was assented to yesterday. It gives room for this money to be sent to the counties. Money cannot be sent to the counties without passing the County Allocation of Revenue Bill from the Senate. As ... view