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{
    "id": 1026726,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1026726/?format=api",
    "text_counter": 442,
    "type": "speech",
    "speaker_name": "Nominated, ODM",
    "speaker_title": "Prof. Jacqueline Oduol",
    "speaker": {
        "id": 13514,
        "legal_name": "Jacquiline Adhiambo Oduol",
        "slug": "jacqueline-adhiambo-oduol"
    },
    "content": "I am aware that we are saying that this Fund has worked in other jurisdictions such as Jordan. By way of supporting this Bill, I want to emphasise that we need to keep our eye on the regulations, as we look at the powers and authority that we give to the CS. As it had been pointed out by the Leader of the Minority Party, we seek to moderate that. As I talk about my experience as a Principal Secretary in the Ministry of Gender, Children and Social development some time back, I know that there were a lot of good programmes like getting Kenya Women Enterprise Fund and partnering with banks. One key lesson was that banks tend to approach the issue from a different angle. They are more keen to look at the benefits, profit and their commercial gain. It is very clear that particular amendment of the PMF Act intends to truly complement that. Although we will be giving loans and trying to partner with the banks, the intention is to complement and make up a shortfall in the banking system. It is for this reason that I want to emphasise to the Committee that we need to avoid situations where the bank might actually ensure that as they provide the loans, they look more at their profit and that it will not meet the goal."
}