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"id": 1026741,
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"type": "speech",
"speaker_name": "Roysambu, JP",
"speaker_title": "Hon. Isaac Ndirangu",
"speaker": {
"id": 2701,
"legal_name": "Isaac Waihenya Ndirangu",
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"content": " Thank you, Hon. Temporary Deputy Speaker. I wish to congratulate my Chairperson, Hon. Wanga, for her exposition of the good content within this Bill and for even conversing to Members to easily understand and support it. I also want to say that this Bill is a beacon of hope for our SMEs. This legislation is going to be a momentous step in the Government going out of its way to enable Kenyans operating as SMEs to reengineer their businesses, having been seriously affected by COVID-19. I want to take Members to Section 8 of the Public Finance Management Act (PFM) 2012 and what this Bill means to Kenyans who are in the micro-enterprise’s category. Section 58 of the existing Act, says- “58 (1) Subject to subsection (2), the Cabinet Secretary may guarantee a loan of a county government or any other borrower on behalf of the national government and that loan shall be approved by Parliament. (2) The Cabinet Secretary shall not guarantee a loan under subsection (1) unless— (a) the loan is for a capital project (c) in the case of a private borrower, there is sufficient security for the loan;”"
}