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{
    "id": 236000,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/236000/?format=api",
    "text_counter": 317,
    "type": "speech",
    "speaker_name": "Mr. Angwenyi",
    "speaker_title": "",
    "speaker": {
        "id": 326,
        "legal_name": "Jimmy Nuru Ondieki Angwenyi",
        "slug": "jimmy-angwenyi"
    },
    "content": "Thank you, Mr. Minister. Mr. Temporary Deputy Speaker, Sir, mine is to add my voice in support of this Bill. I would like also to suggest that the Minister should reduce the initial capital to some level which is affordable to the people who want to invest. We should borrow from what has happened in Bangladesh where Prof. Yunus started a microfinance enterprise with only US$500. Why can we not start with, for example, Kshs500,000 or even less for the rural areas? In the case of towns where there are financial institutions and already established microfinance institutions, we could increase the initial capital for those areas. I would like to suggest that for constituencies such as the North Horr, the initial capital should be made as low possible. I would also like to suggest that the Government should consider establishing one microfinance institution through which it will channel the Youth Fund money. Let the Government involve itself in this the same way it involved itself in creating the Kenya Commercial Bank and the National Bank of Kenya to compete with multinational banks. The Government should impart entrepreneurial skills to our people to enable them join the banking sector. If we do that, I am sure this Bill will succeed. With those few remarks, I beg to support"
}