Ledama Olekina

All parliamentary appearances

Entries 111 to 120 of 4219.

• 3 Dec 2024 in Senate: Mr. Deputy Speaker, Sir, can I have 30 seconds? view
• 3 Dec 2024 in Senate: Mr. Deputy Speaker, Sir, I wish Sen. Onyonka was here. With regard to his statement, I want some clarity. He talked about logging in Masai Mara park. I do not know whether there is logging taking place inside the park. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate. view
• 3 Dec 2024 in Senate: I would like that clarity made. If it were a forest in Narok County, it would make sense, but Masai Mara is just a region. As I said, inside the park, there is no logging. However, if there is logging taking place there, I would like to know. Mr. Deputy Speaker, Sir, it would be important for the committee while investigating this matter to appraise the House on the reafforestation efforts that are taking place. We see many Cabinet Secretaries flying to go and plant two trees. They probably spend about Kshs1 million to go and plant one or two ... view
• 3 Dec 2024 in Senate: Thank you, Mr. Speaker, Sir, I rise to support the Report from the Joint Committees in approving the nominee to serve as the second Deputy Governor of the Central Bank. I listened to some of the Committee Members asking questions. One of the things that all Kenyans will be asking is how we put money back into their pockets. I believe the then-candidate we are now discussing answered that the answer lies in lowering interest rates. A lot is happening in this country. I hope that this current nominee, when approved - I hope that this Senate will approve him ... view
• 3 Dec 2024 in Senate: Earlier today, when a staffer in my office went to one of the financial institutions that has been nominated to receive Social Health Insurance Fund (SHIF) payments, they were told that they could only pay using cash and not by cheque. It begs the question; why do we still use cheques as one of the modes of paying? The CBK must get correct answers from Diamond Trust Bank (DTB), Kenya Commercial Bank (KCB) and other banks that are sending away institutions that want to make payments by cheques. Unless you have an existing account with that bank, they do not ... view
• 3 Dec 2024 in Senate: One of the things that I hope Gerald will assist the Governor in determining is to do with this issue that had been introduced in this country on how much interest a financial institution can charge. Businesses were thriving when we knew that banks would only charge a maximum of about 4 points above the base lending rate. If the base lending rate set by the CBK is about 12 per cent, we should revisit the discussion of reintroducing a maximum point that a bank can charge for interest. That is how you encourage a young economy to grow and ... view
• 3 Dec 2024 in Senate: We need to put some discipline and allow this country to develop. We should encourage the youth to start businesses. However, if a youth wants to open a business, he goes to a bank and asks for a loan and they are given at an interest rate of 20 per cent, by the time they are repaying that loan whose interest is on a reducing balance, it will have gone up to almost 36 or 40 per cent. We need to have control. We need to find a way of encouraging financial institutions to do clean businesses. view
• 3 Dec 2024 in Senate: There are many ping-pong businesses out there with these financial institutions. Today, if you ask these financial institutions, particularly those in Tier 1, to publish their Non-Performing Loans (NPLs), you will be shocked. I am talking about especially financial institutions that trade in Kenya, Uganda, Tanzania, Rwanda, Burundi, and even South Sudan. For them to balance their books, maybe their bank in Rwanda is doing better than in Kenya. However, you will hear them saying that they have made so much profit this year. However, if you go into the details, because they always say the devil is in the ... view
• 3 Dec 2024 in Senate: There are some people who own like Kshs3 billion or 4 billion. However, you will not see that because it is a business. In fact, if you work with financial institutions and take a loan but delay to pay for two months, that bank will be after you like no one's business. They will call you and call you. If you happen to dodge them and hit the third month, the calls reduce. In the fourth month, you will not get any call. Ask yourself what happens. Whatever loan you owe is put into a suspense account. It can either ... view
• 3 Dec 2024 in Senate: When they calculate their performance or try to demonstrate how they made profit, they do not consider that money in a suspense account. Something interesting happens. You will find an international institution that comes and purchases those loans. People who will now be forcing you to pay are those who bought that loan. They follow you and you end up paying. view