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{
    "id": 457946,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/457946/?format=api",
    "text_counter": 222,
    "type": "speech",
    "speaker_name": "Hon. Njenga",
    "speaker_title": "",
    "speaker": {
        "id": 1510,
        "legal_name": "Francis Kigo Njenga",
        "slug": "francis-kigo-njenga"
    },
    "content": "Fund. If it is going to be continuous then, SACCOs will be better; they are cheaper, convenient and fast. I am also having a problem with the kind of work that these funds will do and urge our people to consider going back to the cottage industries of earlier years. Cottage industries would make goods and products that are consumed by households in our constituencies. That can enhance savings which will go a long way in making our people break away from a cycle of poverty. So, the money should be given to institutions or organizations that will be able to produce soap and the like. The other thing that I am concerned about is the portion of this money which is a grant. We need to educate our people that the 60 per cent loan, which I find to be a little bit low, is different from the grant. Otherwise, we do not have repayment and having this fund as a going concern is problem. I am also concerned with the kind of saving that we shall do. One per cent is very little. My question is; if we are going to have 1 per cent, and we have the percentages that are going to administer this Fund--- We should consider a percentage that will motivate and repayment at 3 per cent or 5 per cent per annum to increase this Fund to meaningful amount of money in the long term. Otherwise, I support the Fund and I would like to urge Kenyans to know that this money is not for free."
}