{"id":1026741,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1026741/?format=json","text_counter":457,"type":"speech","speaker_name":"Roysambu, JP","speaker_title":"Hon. Isaac Ndirangu","speaker":{"id":2701,"legal_name":"Isaac Waihenya Ndirangu","slug":"isaac-waihenya-ndirangu"},"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;”"}