21 Sep 2021 in National Assembly:
Thank you, Hon. Temporary Deputy Speaker for giving me an opportunity to contribute to this very important matter. At one point, I was an administrative secretary in the Ministry of Co-operatives Development and Marketing immediately after the promulgation of the Constitution of Kenya, 2010. I was on the team which framed this Policy and I can see a number of improvements have been made since I left. So as to get Members thinking, Harambee Sacco, which is close to us, is bigger than most banks in Kenya. The main contributors to it are Government officers in the Army and the ...
view
21 Sep 2021 in National Assembly:
this is very good for the Leader of the Majority Party - when you come up with an Act of Parliament, which has financial implications, should it not have been started in this House? It has serious financial implications. We have many Saccos such as those in the transport sector and the
view
21 Sep 2021 in National Assembly:
you see. There is the auditing of co-operatives which I have been talking about whereby the national Government is making an effort to ensure that that is followed. Co-operatives begin from the village and have their apex bodies which even go up to the counties. That is why under the new Constitution, they are managed by the county governments because of the need to promote co-operatives at the grass-root levels. There are also national bodies like the Co-operatives Alliance of Kenya (CAK) and KUSCCO. There are also international co- operatives. KUSCCO now belongs to an international body called the World ...
view
19 Aug 2021 in National Assembly:
Thank you, Hon. Speaker, for giving me an opportunity to contribute to this very important Bill. The Central Bank of Kenya is regulated by the Central Bank Act, a fairly old Act. We have had the advantage of new developments in the world, especially in ICT. More important is digital lending, which has not been part of the law. These amendments have been brought to support digital lending, so that it is provided for in law. It is already happening and a lot of transactions are going on in and outside the country digitally without a supportive law. In fact, ...
view
19 Aug 2021 in National Assembly:
There are quite a number of developments in this particular area, including digital money which many central banks in the world have rejected, including our own, for lack of a law which could be a medium of transaction or which could provide a way forward. A lot of that has gone on illegally. It is, therefore, important that we have a law that catches up with the developments in the world. One of the major things that happened is M-Pesa. We must thank former President Kibaki, his then Minister for Finance and the input of the late Hon. Michuki at ...
view
19 Aug 2021 in National Assembly:
This Bill is trying to ensure that digital transactions take place within an established law so that there can be database that will serve the country sufficiently. Importantly, the object of the amendment is to provide for licensing of digital credit service providers who are not regulated under any other law. Quite a number of them have come up and are already in business. The Central Bank of Kenya is cracking down on some of these lenders. The transactions are done through mobile phones. Many times, people default paying such loans and switch off their phones or they stop using ...
view
19 Aug 2021 in National Assembly:
I support this Bill because it is very important. It is going to increase trade and facilitate starting of new businesses, especially in post Covid-19 economic recovery in this country. This is very strategic. I believe many young people who are involved in this sort of set up and transactions are going to gain more, have a stronger economy and transactions will move faster as regulated by the Central Bank. With those remarks, I support.
view
18 Aug 2021 in National Assembly:
Thank you, Hon. Temporary Deputy Speaker for giving me an opportunity to contribute to this very important Amendment Bill. This country is blessed with many rivers and a lot of water flows into the ocean. In fact, as Hon. Mulyungi has stated, we should have domestic irrigation. This is being practised in Yatta by Bishop Masika who has irrigated a whole location through cooperatives, organised community groups and the church. They have helped each other save and store rain water. In our country, even in the driest areas when it rains, it floods. Eventually all the water is swept away ...
view
18 Aug 2021 in National Assembly:
I believe we can do the same. A team from Israel came to Kenya and when they saw Tana River and Athi River they said if they had such rivers, they would lead the world in food production and they were ready to assist us. One of the best ways of doing this is by ensuring we have a law to enable the structures perform. What we have currently is riddled with corruption. Irrigation and water are devolved roles of the counties which must work together with the national Government.
view
18 Aug 2021 in National Assembly:
In Makueni we have Thwake dam coming up which will have an irrigation component. Definitely once done, we will become the food basket of the country. In Tana River along Mwingi North there is an irrigation project that was started by Israelites when they came here. As soon as the Kibaki Government was gone and the moment devolution came in that project is not doing well under the county government. Hence the need for synergy between the national Government and county governments, so as to ensure such important irrigation operations continue in the country. In the other Parliament, when I ...
view