Johnson Arthur Sakaja

All parliamentary appearances

Entries 4241 to 4250 of 5036.

• 10 Mar 2016 in National Assembly: Thank you very much, Hon. Temporary Deputy Speaker. First, I join you in welcoming the students from Machakos. Secondly, I would like to congratulate Hon. Jude Njomo who today has been christened “Judy”. I do not know why but that might just be his new nickname for bringing this piece of legislation to the House. view
• 10 Mar 2016 in National Assembly: There are four indicators of an economy that is thriving. You look at the rate of inflation, the country’s exchange rate, the rate of GDP growth and the interest rate. Those indictors tell you how well the economy of a country is performing. As you are all aware, we have been trying to push for financial inclusion of most unbanked Kenyans and also to provide opportunities for young people just as these young girls who will soon be finishing school and would like to get into business. You know very well that I championed the 30 per cent procurement opportunities ... view
• 10 Mar 2016 in National Assembly: 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
• 10 Mar 2016 in National Assembly: Much obliged. Today, there has been a mix of “Jude” and “Judy”, “Mr. Speaker”.” Madam Speaker”, that is well noted. I would not like to cast any doubts on the gender of the Temporary Deputy Speaker. view
• 10 Mar 2016 in National Assembly: As I was saying, when it comes to seeking depositors, many of these banks compete. You will see one being set up here and another there. They compete when it comes to seeking depositors. But when it comes to setting interest rates, they collude and set interest rates that are way above the base lending rate and the Kenya Bank Reference Rate (KBRR) that has been set by the CBK. view
• 10 Mar 2016 in National Assembly: Many people doing business today in Kenya in a world that is driven - it is a global economy powered by information - by data are not just competing with businesses in Kenya. They are competing against businesses around the world. I think that it is poetic that this is being discussed; the Governor of New Zealand Reserve Bank, Graeme Wheeler has cut the interest rates in New Zealand to 2.25 per cent. How do you expect a business in Kenya to compete with that business in New Zealand? Or, how do you expect an investor from there to come ... view
• 10 Mar 2016 in National Assembly: As much as I support this, we must put a ceiling. I will, of course, propose an amendment later because the ceiling should not be on the CBK rate. It should be on the KBRR. I will explain. The KBRR is set every two months by the CBK taking into account all these other factors, taking the average CBK rate and an average two month weighted moving average of the Treasury Bill rate which takes into account all those economic factors. Above the KBRR, the banks should only be allowed to charge a certain percentage and that is 4 per ... view
• 10 Mar 2016 in National Assembly: Finally, Hon. Temporary Deputy Speaker, if you give me 30 seconds, I would like to point out that part of the problem we have in this country is that the Government, many of our Ministries and agencies, bank with commercial banks instead--- view
• 10 Mar 2016 in National Assembly: Thank you very much. You are very gracious Hon. Temporary Deputy Speaker and I also acknowledge it. If the Government was to consolidate its banking interests into a development bank, where it can actually compete with these other banks - the Government as it is today, takes its money and gives it to Ministries. Ministries put money in commercial banks and the Government goes back and borrows its own money, therefore, distorting the economy. Those two things must be addressed. This House must summon the courage to deal with it despite whatever interest is in it. Let us not be ... view
• 10 Mar 2016 in National Assembly: With that, I emphatically support this proposal and Bill. We will see it through the end. Thank you very much and thank you for your consideration. 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