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{
    "id": 1176061,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1176061/?format=api",
    "text_counter": 67,
    "type": "speech",
    "speaker_name": "His Excellency the President",
    "speaker_title": "",
    "speaker": {
        "id": 168,
        "legal_name": "Uhuru Muigai Kenyatta",
        "slug": "uhuru-kenyatta"
    },
    "content": "and the boda bodas, that every person who sells any good or service, gets to work, and earns a decent livelihood enough to place them on the path to wealth, through saving and investment. The Hustler Economy has to flourish and form the foundation of broader economic transformation while catalysing the widening of the national revenue base. Our agenda here is to take necessary measures to create an enabling environment for business people to thrive and decriminalise enterprise. Affordable credit makes a huge difference in the rate of business growth. Access to affordable credit is like a magic formula. The current Credit Reference Bureau approach of blacklisting debtors is a zero-sum, punitive and has arbitrarily locked millions of businesses out of the credit system. It is time to shift the formulae to a credit scoring system, which allows lenders to apply customer segmentation and at the same time end the stigma of blacklisting. We have held productive conversations with operators of the Fuliza and M- Shwari platforms on the modalities of reducing their lending rates. Today, I am happy to report that yesterday, our engagement finally culminated in an undertaking by the platform operators to reduce the cost of credit by 50 per cent."
}