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{
    "id": 1180527,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1180527/?format=api",
    "text_counter": 585,
    "type": "speech",
    "speaker_name": "Kesses, UDA",
    "speaker_title": "Hon. Julius Rutto",
    "speaker": null,
    "content": "This has come into force or action because of the situation that Kenyans are going through. We are privileged to be in a country where people are hardworking. They desire to make their livelihoods. We are cognisant of the economic challenges we face at the moment. If you go down there where our SMEs are, the behaviour of borrowing exists. There is also a behaviour that is established. Some lenders sit at the market in the morning to lend money to mama mbogas and then they are paid in the evening at an interest rate of 10 per cent per day. Eight per cent interest is bringing an issue here. I agree with all of us that for a Fund to be sustainable, it requires repayment together with a cost factor in it. This cushions the users or administrator from utilising the capital aspect, so that in the long run, we do not deplete the Fund. It should grow with time. I am sure this House will appropriate funds to this Fund."
}