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{
    "id": 1180339,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1180339/?format=api",
    "text_counter": 397,
    "type": "speech",
    "speaker_name": "Ainabkoi, UDA",
    "speaker_title": "Hon. Samwel Chepkonga",
    "speaker": null,
    "content": "There is a change of Chair. Hon. Temporary Speaker, these are very important Regulations. As you may be aware, this Government made a deliberate pronouncement that it intends to support those at the bottom of the pyramid – the hustlers – the ones at the bottom-up model. The word “Hustler” has not been properly interpreted in the English Dictionary. So, what the regulations have used is inclusiveness. The objectives of these regulations are to ensure innovation, development and deployment of the pyramid financial services and products that are affordable, accessible and appropriate for the un-served and under-served persons. This would be done through credits, savings, insurance and investment products that will promote inclusion through expanding access to credit by persons in the medium and small enterprises. It will also promote market intervention to improve supply of affordable credit to micro, small and medium-sized enterprises, including credit worthiness-based lending, risk pricing, business and financial management skills and cost of doing business. The Committee had occasion to have a sitting with the Minister for Co-operatives and Micro, Small and Medium Enterprises Development (MSMEs) on Thursday when we participated in considering the Draft Regulations that had been forwarded to Parliament. This was a very comprehensive process in which we were taken through the process in which these regulations were developed. They were developed through public participation. The Ministry of Finance and the Ministry of Co-operatives and Micro, Small and Medium Enterprises Development conducted public participation across the country. It brought together 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."
}