Wilberforce Ojiambo Oundo

All parliamentary appearances

Entries 271 to 280 of 1537.

• 18 Aug 2021 in National Assembly: With the erratic rainfall pattern in this country, we cannot rely on rain-fed agriculture. A Motion was moved here last week. Reports have been submitted by various Government agencies indicating that we have about 25 counties in this country that are facing severe drought because they do not receive enough rainfall to enable them grow crops. The importance of irrigation in this country cannot be gainsaid. That is why we have had the National Irrigation Board (NIB), which has been re-named National Irrigation Authority (NIA). We have so many private irrigation schemes that have been flourishing in this country. Those ... view
• 18 Aug 2021 in National Assembly: Clause 17 puts into place such a cumbersome process of consultation leading to prescribing administrative, an alleged framework. In this country, where we believe in brinkmanship, I do not know how successful the Cabinet Secretary will be, by consulting the Water Resources Authority Secretary, the National Water Harvesting and Storage Authority, the National Land Commission, the Council of Governors and other stakeholders. It might be cumbersome. We will never get any administrative or regulatory framework. Finally, the actors will amend the principal Act under Clause 15 which requires that the Cabinet Secretary to, within nine months, have prepared or submitted ... view
• 18 Aug 2021 in National Assembly: Thank you, Hon. Temporary Deputy Speaker for this opportunity to contribute to this Bill. I stand here with a bit of reservations in respect to this Bill. I do so in respect to the section supposed to be amended, that is Section 28 that makes provisions for a minimum amount but also for corrections to be made from time to time to determine any other amount as minimum or maximum through regulations. view
• 18 Aug 2021 in National Assembly: The Bill intends to amend the Kenya Deposit Insurance Act and specifically, the issue of Deposit Insurance Corporation Fund on how much it can pay. There are fundamentals we need to put in place from the outset for us to understand the genesis of this matter. First of all, it is expected that people in any given jurisdiction will save. Those savings are lent to investors to invest, create jobs, buy supplies and enable running of economy. The importance of deposits in any economy cannot be gainsaid or overemphasised because they are extremely important. view
• 18 Aug 2021 in National Assembly: Secondly, it also presupposes at one time or another a deposit-taking institution will have challenges and collapse due to external, internal, extraneous and local factors. What happens therefore, in the event a deposit-taking institution has challenges meeting their obligations? It is possible this is an inherent risk in the banking industry or financial institutions. There are other mechanisms. The first mechanism is the deposit-taking institutions manage the risks on their own. Secondly, they transfer the risk. Is it with this wisdom that the Kenya Deposit Insurance Fund and the KDIC was created under the Kenya Deposit Insurance Act? The issue ... view
• 18 Aug 2021 in National Assembly: Why do financial institutions collapse? That is the question. Should they actually collapse in the first instance? There are provisions in the Banking Act and this subject Act that give the CBK, the corporation itself and other government agencies the authority and the power to supervise banks to an extent that banks do not collapse. From the first instance, if you are making a decision to deposit your money or invest, there is an expectation that any depositor will take a bit of due diligence to assess and test whether the financial institution has got capacity to manage their deposits. ... view
• 18 Aug 2021 in National Assembly: talking sales people to invest or deposit in shell companies. In many occasions, many of the institutions that have collapsed have collapsed by design. It is not by default. There was already an intention from the word go to defraud specifically the big depositors who are generally government institutions, government entities and other related entities. To imagine that an institution will fail in this modern era with a strong CBK is, therefore, to cast doubt into the ability of the Central Bank and other institutions not to have seen the signs in advance. Section 38 of the principal Act clearly ... view
• 18 Aug 2021 in National Assembly: Hon. Temporary Deputy Speaker, if the view
• 18 Aug 2021 in National Assembly: will be bear me witness, I said that 90 per cent of Kenyan deposits average between Ksh100,000 to Ksh200,000. I clearly said that today, Ksh100,000 might not look like much and we might again move that threshold to even Ksh1 billion, which is not possible under the current regime. I said that most depositors have an average of about Ksh150,000. view
• 12 Aug 2021 in National Assembly: Thank you, Hon. Speaker. For many years, tourism has been the main foreign exchange earner and a major employer in this country. Due to mismanagement of the industry and probably other geopolitics, our importance and also the contribution of tourism has been falling. It is important this petition will jolt us into action to retrospectively inquire where we went wrong. Honestly speaking, there are various cadres in many professions. If tourism is a profession, there must be a provision for the various cadres of the profession to be involved. Tour guides are the people, as Hon. Sankok has put it, ... view