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{
    "id": 1144241,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1144241/?format=api",
    "text_counter": 199,
    "type": "speech",
    "speaker_name": "Tharaka, DP",
    "speaker_title": "Hon. George Gitonga",
    "speaker": {
        "id": 13491,
        "legal_name": "George Gitonga Murugara",
        "slug": "george-gitonga-murugara"
    },
    "content": " Thank you, very much, Hon. Speaker. I rise to support the adoption of the Report of the Committee on Delegated Legislation regarding this particular piece of legislation that was brought before it. Both the Chairman and the Vice- Chairman have actually elucidated why we have to annul these particular Regulations setting up a new Fund known as Biashara Kenya Fund, and also annul the proposed revocations of the other three Funds which have been in existence in the country. Hence, meaning we actually revert to the position we were before these pieces of legislation were actually published and gazetted. The position is when the Committee looked at the Biashara Kenya Fund, it appears to be a new type of a Fund created where government revenue will actually be taken to certain banks and financial institutions and anyone can walk in and borrow the money for purposes of development. This is in contrast with what Uwezo Fund is, as we very well know and how it was created. Today, we have a form of a revolving fund in the constituencies where vulnerable people in the society borrow for purposes of their own self-development. The same applies to the Women Enterprise Fund, which was created in the same manner. It has been working very well especially in the rural constituencies where money is scarce. The Youth Enterprise Development Fund is not very well endowed; I think it does not work very well. The government needs to relook at it so that we know why we have such a Fund, yet most of the time the youth are unable to access this money and use it in their own businesses or whatever else they want to do. The Youth Enterprise Fund, the Women Enterprise Fund and the Uwezo Fund are examples of how we can uplift the standards of living of people who are down the ladder; the downtrodden, the hustlers down there who do not have the capacity to go into a bank and borrow money. They are assessed in a manner that is lenient and friendly so as to access funds for whatever development they want. The Biashara Fund essentially introduced another one of the numerous trickledown ways of lending, especially through banks. This was done so that whoever had money or the capacity and was qualified would go to the banks and draw money meant for the development of the vulnerable."
}