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{
    "id": 1202031,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1202031/?format=api",
    "text_counter": 285,
    "type": "speech",
    "speaker_name": "Sen. Mandago",
    "speaker_title": "",
    "speaker": {
        "id": 13577,
        "legal_name": "Kiplagat Jackson Mandago",
        "slug": "kiplagat-jackson-mandago"
    },
    "content": "On the Paragraph 27 of the President’s speech, he informed the House of the reduction of the cost of credit by the mobile operators or online lenders. I want to congratulate the President for having consistently talked about this in his campaign. In his few days in office, he engaged these lenders and succeeded in ensuring that the cost of credit has been lowered by 40 per cent. Although the lowering by the operators is welcome, I would want to still say that the outstanding percentage is extremely high. I say this because if you check on the lending rates of these online lenders the interest rates go as high as 24 per cent after the reduction that was recently given by these operators. We would urge the operators to lower the cost; if not lower that what the banks are offering, equal to the rates the banks are lending because this is credit that is available to a majority of Kenyans at the comfort of where they are doing their business."
}