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{
    "id": 1144302,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1144302/?format=api",
    "text_counter": 260,
    "type": "speech",
    "speaker_name": "Masinga, WDM-K",
    "speaker_title": "Hon. Joshua Mwalyo",
    "speaker": {
        "id": 13423,
        "legal_name": "Joshua Mbithi Mwalyo",
        "slug": "joshua-mbithi-mwalyo-2"
    },
    "content": "If we take this money back to banks, we will have killed them and they will have nothing to do. Even markets that have been built by the NG-CDF will have to be closed because those women rely on the funds. For example, with the Uwezo Fund, some groups comprising of 10 women get Kshs100,000, which they share among themselves and each woman trades on her own. So, there is in no way they will get the money to repay the loans. This needs to be properly structured so that there are regulations and controls for the money to be paid back every month. These Funds, especially the Uwezo Fund, is like free money as there is no interest charged on the principal amount. The other thing is that there are people who tell them that it is Government money and once you get it, you do not need to repay it. What will happen is that the Funds will die and other people will not benefit from them if they do not pay back. They are revolving funds where you borrow, trade and pay back. That way, many people benefit from it. The idea of bringing them together to form one Biashara Kenya Fund is not a good one. No one in that category will be access that money. Even some of us who are working are unable to fulfil all the requirements put in place by banks. If you do not fulfil one requirement, your loan application is declined. I support the Committee’s view that we do not consolidate the three Funds."
}