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"id": 406872,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/406872/?format=api",
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"type": "speech",
"speaker_name": "Sen. Kagwe",
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"id": 229,
"legal_name": "Mutahi Kagwe",
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"content": "So, it is not possible for us to limit the number of years that the money should be repaid to two years. Mr. Deputy Speaker, Sir, when you look at the whole scheme of things, we have to decide that either, A, this is a medium, long-term that can be paid; B, this is how we The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate are going to supervise this money so that the money is repaid or, alternatively, say “this is simply a grant.” According to the Keynesian Theory of Economics, give them money, and once they have the money, the economy will grow. If that is not the case, then we must be very clear about how we intend to supervise the Fund and what kind of terms we give them. In any case, the determination of the period of the loan is normally dependent on the activity and the business thereof; because it is one thing if somebody is trading and quite another if somebody is going to start a going concern. If it is a going concern, it is going to take a lot longer than two years. If it is trading, it can take even three months. So, there is a sense in which we need to grow to understand that business must be operated according to the nature of the business, not according to how you perceive or pre-determine those things in advance. So, Mr. Deputy Speaker, Sir, we need to get people involved in the Uwezo Fund in addition to the proposed people in the regulations. It is necessary for us to work with people who are skilled in management, particularly people with banking knowledge; people who understand how cash flow statements and how cash flow projections are made; and how payments can be planned for. Otherwise, what happens is that you give the money to a group and the first thing they do is to pay school fees. Once they have paid school fees with that money, it is not going to be possible to get the money back. So, we have to determine in advance whether we are planning on getting the money back; and if we do, then the supervision and administrative part of it must be better planned. Mr. Deputy Speaker, Sir, I support the Uwezo Fund because if done properly, it will have a huge effect on poverty. At the moment, our economies – especially for those of us in Kenya and the neighbouring countries – are basically operating on what is known as inefficient economics. We need to get these people going so that, eventually, we can move to efficient economics. This will bring a stop to Harambees - keeping in mind Sen. (Prof.) Anyang’ Nyong’o Bill of Harambee - because if people have money, then they will reduce the necessity of Harambees for medical bills, school fees and so on, and so forth. As Members of Parliament (MPs) are very much aware, in my opinion, these have become so much that Members can no longer cope. When you hear Members here speaking, all they say is that “I have got 100 or 200 Harambee cards” and there is a lot of to and fro regarding exchange of cards in this House and, ultimately, what is happening is that people are unable to cope with the demands of Harambees . The MPs can no longer cope with the demands that are made on them by"
}