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{
    "id": 215459,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/215459/?format=api",
    "text_counter": 162,
    "type": "speech",
    "speaker_name": "Dr. Kuti",
    "speaker_title": "",
    "speaker": {
        "id": 60,
        "legal_name": "Mohammed Abdi Kuti",
        "slug": "mohammed-kuti"
    },
    "content": "Thank you, Mr. Temporary Deputy Speaker, Sir. I appreciate the interest this matter is generating. That is why I am saying that we will hold another Kamukunji with hon. Members and, maybe, publicise it. I was saying that the money that is channelled through the microfinance institutions attracts 8 per cent interest, of which 5 per cent is to cater for administrative and other costs that the microfinance institutions incur, 2 per cent is for training, while 1 per cent is the figure that the Ministry has put on top. So, this was negotiated at 8 per cent. I would like to take this opportunity to let Kenyans know that this interest rate has been negotiated across all the microfinance institutions, and that no microfinance institution should charge any interest that is more than 8 per cent. That is how the microfinance institutions will meet their administrative costs or whatever expenses they incur. Thank you, Mr. Temporary Deputy Speaker, Sir."
}