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{
    "id": 1180427,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1180427/?format=api",
    "text_counter": 485,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. At the outset, I support the Public Finance Management Regulations of 2022. Because I love numbers, I would like to inform some of my colleagues who are opposing these regulations of a few numbers that would be critical to them. The interest rate on the ‘Hustler Fund’ is at 8 per cent per annum. One of the honourable Members referred to this as Government “ Fuliza ”. For the record, I will try to compare those two funds so that when we tell the Member that he is out of order next time, he will know that he is factually out of order. For you to just access a Fuliza loan, there is a facilitation fee of 7.5 per cent. What we are offering has no facilitation fee at all, just an interest rate of 8 per cent per annum. The honourable Member who has just contributed has talked about hustlers who do not have smartphones. Let me inform him that this product is accessible through a regular cellular phone, those called USSD. In the same way that you check your airtime balance from Safaricom through *144#, hustlers who do not have smartphones will still be able to access those funds through USSD. I would like to inform this House that, as per the Kenya National Bureau of Statistics Report of October 2022, our rate of inflation is at 9.6 per cent. When the rate of inflation is at 9.6 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."
}