Kabando wa Kabando

All parliamentary appearances

Entries 141 to 150 of 761.

• 3 Dec 2014 in National Assembly: If you want to trade in Government long-term securities currently, you need to invest a minimum of Kshs50,000. By “long-term” I mean a period of 365 days to about 40 years. If you want to trade in short-term Government securities, you need to invest a minimum of Kshs100,000. The 2009 Economic Survey notes that only 2 per cent of our population earn a monthly salary of over Kshs50,000. The 98 per cent of our young enterprising individuals, and the mushrooming groups that we continue to precipitate through national initiatives like Uwezo Fund groups--- These groups comprise of the historically marginalised ... view
• 3 Dec 2014 in National Assembly: They should not be condemned or treated with scepticism: they are not able to provide financial support to their own Government by participating in lending and, thus, participate in Government debt operations. We cannot marginalise them, or isolate the minority who are hugely capable, like commercial banks and individuals who have huge disposable incomes. 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
• 3 Dec 2014 in National Assembly: According to the Ministry of Planning and National Development of 2009, which is now under the docket of the Ministry of Devolution and Planning, 2 per cent would mean below half a million Kenyans. This means nearly 40 million Kenyans cannot participate in the securities that we are talking about. This is a matter to concern us, particularly because the hallmark of national debate about economic empowerment has been to mainstream those who have been on the outside, and to ensure that their identities, including patriotism and their pride as partakers and shareholders of the nation are solidified. view
• 3 Dec 2014 in National Assembly: Hon. Temporary Deputy Speaker, this amendment recognises the obvious need to break with the past and embrace the future. It seeks to democratise the Treasury and the Central Bank of Kenya (CBK). I know some would say that Kenya is the hub of Information and Communications Technology (ICT). We are doing very well in digitising our commercial banks, and the CBK is ahead of the pack compared with the rest in the region. That is true but is it enough? We seek to amend Section 45 of the CBK Act because the technological capabilities and professional capacities that exist are ... view
• 3 Dec 2014 in National Assembly: Therefore these amendments seek to widen the participation and anchor it in law, so that people’s rights to lend their Government is not left to the goodwill of CBK, or to the discretion of the incumbent at the CBK, or to the benevolence of the mandarins at the Treasury. We appreciate that good effort has been made, but we need to anchor this in law, so that there is an obligation and an entitlement of Kenyans. view
• 3 Dec 2014 in National Assembly: Hon. Temporary Deputy Speaker, in 2013 one would have asked where this money was going to come from. I want to give two examples. In 2013 we paid our herdsmen, house helps, drivers and we also paid for our groceries. We transacted for social welfare support systems and other initiatives through Mpesa to the tune of Kshs2 trillion. That is the money that circulated around through Mpesa which is fairly a new phenomenon compared to the national Budget. This is very significant in terms of volumes and size. It means there is a lot of money that is going through ... view
• 3 Dec 2014 in National Assembly: In 2013 we put as Kenyans – both small and big depositors – in commercial banks Kshs1.3 trillion. We celebrate the successes of our banks. We celebrate that Kenya in this continent is a leader in Savings and Credit Co-operative Societies (SACCOs). We celebrate that in this continent, we are leading in the co-operative movement. What we need to ask about is the disparity between the superhighway in terms of commercialisation vis-à-vis the guys on bicycles, boda boda and those who walk for long distances in the industrial areas and other places of labour. view
• 3 Dec 2014 in National Assembly: On putting Kshs1.3 trillion in banks, we can say that we are very strong supporters of our commercial banks. Every year, we see banks recording a growth average between 40 and 45 per cent. This year, some banks have recorded a growth of 70 per cent. One would call that “pre-tax profit” but even after their reliefs, what do small and medium depositors get from our deposits? view
• 3 Dec 2014 in National Assembly: Hon. Temporary Deputy Speaker, according to the 2013 analysis, for the over Kshs1.3 trillion that we deposited in bank accounts, the banks paid us a paltry1.58 per cent interest. How does this compare with much that is being declared as dividends or 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
• 3 Dec 2014 in National Assembly: profits? There is a problem about what we get as interest. There is a conflict between what we put in commercial banks and what the commercial banks give back to us in interest. The average bank lending interest rate is 15 per cent. Some banks charge between 20 and 25 per cent. view