Matungulu Member of Parliament Dr Stephen Mule has urged relevant authorities to provide clarity on the ownership and regulatory status of QVSE, saying any financial platform handling Kenyans’ money must be transparent and accountable.
Speaking on Sunday during a church fundraising at St Teresa Catholic Church Syanthi location in Matungulu Constituency, Dr Mule said his remarks were not intended to condemn the platform, but to protect citizens from potential financial losses.
"My concerns regarding QVSE are not intended to undermine a platform that may be providing legitimate opportunities to Kenyans, nor do they constitute a call for its arbitrary closure," the MP told congregants and guests.
"My concern is simply that any financial enterprise entrusted with citizens’ money must be transparent, properly regulated and accountable."
The MP said Kenyans deserve to know who owns QVSE, its legal standing, and the mechanisms in place to protect investors.
"So we just need clarity on its ownership, legal status, regulatory authorisation and, above all, the protective mechanisms securing the interests of our citizens on their investments," he said.
He referenced past collapses of pyramid schemes to stress the need for caution: "Should the platform become insolvent, compromised or collapse as we have witnessed many pyramid schemes do, what enforceable mechanism exists for investors to recover their funds?"
Dr Mule told the congregation that elected leaders must be proactive in safeguarding public interests.
"These are legitimate questions of public interest. As representatives of the people, we have a duty to interrogate potential risks before, rather than after, citizens suffer financial losses," he added.
Financial regulators including the Capital Markets Authority and Central Bank of Kenya have previously warned the public to verify the licensing of any entity soliciting investments.
