This dude is full of hogwash.

How does every Kenyan having a bank account improve the economy ?

How does an income tax file with KRA, seal loopholes in tax collection ? The big fish evading taxes in this country have bank accounts and KRA PIN too.

Should we then expect the ICT minister to say it is mandatory for every Kenyan to have a phone ?

Some perspective is also needed here. Why does my grandmother need to open a bank account when she is turning 90 and has no interest in changing her lifestyle ? Will she cease being a Kenyan now ?

If the plan is to have the youth open bank accounts, that is different from having every Kenyan open a bank account. The youth constitute just a fraction of the population, a law meant to benefit them should not be at the cost of others.

Perhaps some data showing the distribution of banks in relation to the distribution of the Kenyan population in the country is also in order.
Right now most banks cannot service their customer base effectively even with the low penetration of bank accounts, how would such a law be of benefit to the banks that would then have to expand not to capture additional business but to comply with a law?

The cost of opening and maintaining a bank account is something that most people still have to puzzle over, especially those not living in urban areas (which is still over 50% of Kenyans). Having to travel several kilometers to a town to queue in a line to transact anything less than 5k and then have a bank deduct some of it just because you chose to put it there does not sound beneficial.

Another very important fact is that some urban dwellers live a life of hand to mouth and therefore have little if anything left over to warrant the cost of banking.

Having an account is beneficial to income earners especially those who can afford the luxury of meeting their immediate needs and are left with some more. That is NOT the general Kenyan population.

Githae's grand mistake is generalizing a vision into a law and claiming that this is beneficial to the country and the economy. It is not!
The way to building a culture of savings is not through a law. It is by educating people, ensuring they have those opportunities that allow them to have something to save in the first place and then ensuring the necessary infrastructure is in place. That is why the minister and the government at large exists, not to paternalize but to facilitate!