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{
    "id": 1144310,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1144310/?format=api",
    "text_counter": 268,
    "type": "speech",
    "speaker_name": "Nominated, JP",
    "speaker_title": "Hon. Cecily Mbarire",
    "speaker": {
        "id": 13166,
        "legal_name": "David Ole Sankok",
        "slug": "david-ole-sankok"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. I rise to support this Report by the Committee on Delegated Legislation. Being a Member of that Committee, let me appreciate the hard work that takes place in that Committee behind the scenes in meeting rooms and board rooms. This is a Committee that is led by a hardworking leadership. It is a Committee that is very cohesive across the party divide. We have done so much since I joined the Committee last year. I would really like to support what they have done, especially in relation to these Regulations of forming the Biashara Kenya Fund. As a Committee, we have come up with this decision because we realised that amalgamating all these Funds into one major fund, which would then be managed through commercial banks, would create the bureaucracy we were running away from the beginning when the Funds were created. We know that commercial banks want to make profit. The minute you put these Funds under the management of commercial banks, the banks will create bureaucracies. They will start asking for collateral. They will make it very difficult for the intended persons to access the funds. I can tell you out of experience back in Embu and Runyenjes where I was a Member of Parliament, that women do not have time to go to banking halls for paper work. They need a Fund that is easy to access without a lot of bureaucracies and qualifications to get the money on the table. This will definitely make the Fund very expensive. Hon. Temporary Deputy Speaker, I am doing this from the knowledge that the first time the WEF was formed, even before it became a formal enterprise fund, women in this House then, Hon. Millie will agree with me, visited the then President, His Excellency Mwai Kibaki, led by the Chair of the Kenya Women Parliamentary Association (KEWOPA), Hon. Betty Tett, and it was in that meeting that we told him that we needed to create a credit facility for women to access and borrow money without much bureaucracy. It was to be cheap and accessible. I remember in the subsequent budget, the Women Enterprise Fund was formed, followed by the Youth Enterprise Fund. Under the Jubilee Party, we got the Uwezo Fund. It is important that we do not lose the original purpose for which these Funds were formed. If anything, I am only too excited that going forward under the bottom-up economic model that we, on the hustler side The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}