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{
    "id": 1144308,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1144308/?format=api",
    "text_counter": 266,
    "type": "speech",
    "speaker_name": "Nyaribari Masaba, NAPK",
    "speaker_title": "Hon. Ezekiel Ombaki",
    "speaker": {
        "id": 13458,
        "legal_name": "Ezekiel Machogu Ombaki",
        "slug": "ezekiel-machogu-ombaki"
    },
    "content": "The Uwezo Fund is about people forming groups and seeking funding together, not necessarily people with the kind of securities that are required by banks. They register a group and it becomes very easy for them to access money from the Funds. As a result, they keep on rotating the money they receive, in the small businesses that they do, and they are able to gradually grow together. A group of beneficiaries is collectively given Kshs50,000 or Kshs100,000 and they are obligated to pay back the money for onward lending to another group. At the end of the day, they will pay back and go for even a higher credit amount. That way, this money enables the low cadre members of our society to grow their small businesses and it becomes very easy for us to offer them help in their businesses. As I have said, if you go to a bank, you require some security, property and guarantors, which is a bureaucratic process. This would not help the ordinary mwanachi whom, with funds like the Uwezo fund, do not require to fulfil many conditions for them to benefit. Therefore, I thank the Committee for finding that they should not consolidate the Funds. The only thing is that those who receive the money under the Uwezo Fund should be well aware that at the end of the day, they should repay it so that they can create a revolving fund that would enable many others to benefit as well. With those remarks, I support."
}