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{
"id": 1564683,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1564683/?format=api",
"text_counter": 62,
"type": "speech",
"speaker_name": "Hon. Wycliffe Oparanya",
"speaker_title": "The Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises Development",
"speaker": null,
"content": "there are many existing interventions from the Government and private actors, their effectiveness has tended to be undermined by the silo manner of operations. The Ministry has embraced the multi-sectoral approach to coordinate the sector and create more synergies and opportunities for leveraging the focus on MSME development. As a result, the Ministry has established a Public-Private sector MSME dialogue, known as MSME Connect. This initiative was launched on 14th March, 2025 in Nairobi. The plan is to go across the country and hold county-level forums that will converge local actors and discuss opportunities, address emerging challenges within the prevailing local context and offer solutions. The next Kenya Public-Private Sector MSME dialogue will be held in June this year in Embu County. Hon. Speaker, the Ministry is embracing joint outreach programmes throughout the Semi-Autonomous Government Agencies (SAGAs) while working together with the county governments, national Government administrative officers and respective officers. This is to provide a comprehensive sensitisation programme that outlines opportunities in the entire ecosystem, including financing, capacity building and market linkage. For instance, in April and May, 2025, teams from the Micro and Small Enterprise Authority (MSEA), Hustler Fund, Uwezo Fund and KIE held a sensitisation meeting in Kakamega and Marsabit counties. They collaborated with the National Government Administrative Officers (NGAO), the Office of the Advisor to the President on Women Affairs, the Youth Enterprise Development Fund (YEDF), the Women Enterprise Fund (WEF), among others. Together, they conducted awareness on economic empowerment opportunities within and outside the Government, including how to access Government procurement opportunities programmes. It is only through such a coordinated approach that the majority of Kenyans at the bottom of the economic pyramid will be reached and linked to opportunities that grow and scale their enterprises. Regarding part (c) of the question, the impact of the Hustler Fund on women entrepreneurs has been considerable, with women accounting for 48 per cent of over the 25 million total borrowers. In addition to enabling over Kshs70 billion circulation into the economy, the Fund has provided a credit card to its beneficiaries to enable them to access credit lines through a dignified manner. As of today, with a credit limit of Kshs500, beneficiaries can confidently have a fallback plan to meet their needs and avoid shame and fear that comes with borrowing. Good borrowers have had an opportunity to grow their credit limits. As of today, we have beneficiaries who are borrowing up to a maximum of Kshs150,000 on the new bridging loan product. The saving component has mobilised over Kshs4 billion in both voluntary and mandatory methods, promoting a saving consciousness culture among Kenyans as a de- risking mechanism to their livelihoods. The credit history of all beneficiaries has been crystallised into a nine-band Hustler Fund behavioural rating system, ranging from A1 to C3 (A1, A2, A3, BI, B2, B3, C1, C2, C3), where A1 is excellent while C3 is very poor rating respectively. We are institutionalising the credit score towards market utilisation to The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}