Hon. Richard Nyagaka Tongi

All parliamentary appearances

Entries 181 to 190 of 598.

• 11 Sep 2019 in National Assembly: The questions we need to ask ourselves are: Are we going to punish people for their success? Are we going to punish banks because they are making money? Would we rather have a situation where they are not making money and then we punish them? We also have in the same economy, with the same parameters, struggling banks. We have a merger in progress between the National Bank of Kenya (NBK) and Kenya Commercial Bank (KCB). The reason for the merger is that NBK is not doing well. So, it is not fair to say that banks are making a ... view
• 11 Sep 2019 in National Assembly: limit you have sealed the cap, then most banks will have difficulties in operating under the same circumstances. If you have to do… view
• 11 Sep 2019 in National Assembly: Yes, they disconnected me. Apparently, people who do not like banks making a lot of money are behind this hitch. view
• 11 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker, for being mindful of your brother. I appreciate that. As I was saying, controlling the interest rates alone is not going to solve the concerns that Kenyans have about the banks. We appreciate that even with the controlled interest rates, some banks are making profits and others are struggling. In this economy, as I had earlier said, we have banks which have made good profits and which have not made profits. They are actually at the verge of winding up. I mentioned the NBK which has been struggling despite the massive Government investment in ... view
• 11 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker, for informing Daktari because we have to lay a preamble and it all addresses and speaks to the same thing. The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor. view
• 11 Sep 2019 in National Assembly: We have microfinance institutions. If we have to address the interest rates and the ambiguity therein, then it should apply across board. We have the mobile money facility which has destroyed Kenyan youth. I have cases of some youth I was trying to help secure some employment somewhere. They were denied employment opportunity because they are already listed as not being credit worthy. All this is because of the money being availed at their disposal without any KYC. KYC enables the creditor to appreciate the quality of the person being given the loan. The mobile money is given almost freely ... view
• 11 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. I support the Bill but with a caveat that we remove the lower interest rate capping as we control the upper rate so that we give banks a chance to be able to manipulate and work with their numbers. Thank you. The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor. view
• 25 Jul 2019 in National Assembly: Thank you, Hon. Speaker for this opportunity. I also have a similar concern that the census is a very emotive issue. The youth are very concerned. You must have seen on television especially in Kisii where I come from, the youth were up in arms and have said that any working person who is given an opportunity at their expense will be lynched. We do not want to get to that level of lynching people. We would want to mitigate this issue before it gets to that level. We need the intervention of the Chairman of the Committee concerned so ... view
• 25 Jul 2019 in National Assembly: They deserve to be given a chance so as to earn a living and make a difference in their lives. This is because some of those youth need to grow the economy with a very small seed capital which can be obtained by earning some allowances from this census programme. So, I urge the Hon. Speaker to give direction so that we can get the youth given an opportunity first. view
• 25 Jul 2019 in National Assembly: Thank you so much. view