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{
    "id": 1180464,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1180464/?format=api",
    "text_counter": 522,
    "type": "speech",
    "speaker_name": "Nominated, ODM",
    "speaker_title": "Hon. John Mbadi",
    "speaker": null,
    "content": "the country, to lower the base lending rate even to 3 or 4 per cent as it is in other jurisdictions and then you can charge our hustlers about 4 per cent. Hon. Temporary Speaker, there is nobody who has ever started a business with a loan and succeeded. Loans are used to enhance and expand businesses and make them more viable. Starting a business with a loan is suicidal. The Government should have thought of giving the hustlers (and I want to use this word very strongly because you used it during campaigns) grants to start their businesses. We support the establishment of the Fund, but not to extort and fleece our people hence making them poorer in the name of giving them the capacity. Let me warn the Hon. Members here, the moment you allow the Fund to be operationalised, the electorate will borrow it and come to you when the Government comes for their assets. We have seen it with the Women’s Fund. People will be auctioned. It will become 9.5 per cent if you default. What kind of a government can operate like this? I thought we had serious economists advising this Government. Hon. Temporary Speaker, I am persuaded that the economists advising the President and the Cabinet should be fired as early as yesterday. They are misleading this country. In fact, they should be fired because they are misleading this House. You cannot make that kind of money in the kind of economy we are in. We are still struggling to come out of the COVID-19 Pandemic period. Which business can even give you a 5 per cent profit? You want to charge our people 8 per cent."
}