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{
    "id": 467011,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/467011/?format=api",
    "text_counter": 201,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Pukose",
    "speaker_title": "",
    "speaker": {
        "id": 1458,
        "legal_name": "Robert Pukose",
        "slug": "robert-pukose"
    },
    "content": "Thank you, Madam Temporary Deputy Speaker. I said that the issue of microfinance is critical. This affects the poorest of this country. They are waiting to see how this House is going to debate this matter and make it affordable for them. We need to create an environment that will enable the poor Wanjiku to access this money. The other day I was at home and many of the youths and women were asking me how soon they will be able to access the Uwezo Fund. Kenyans out there are waiting. They have difficulty in accessing banks. They do not have enough savings that can enable them own land or buy any meaningful property. This microfinance is the only way out for them. We have seen it work in other countries. There are many examples. There are people who have won Nobel Peace Prizes in India for mobilizing women to start business on the microfinance line. This is where we are going. A few years ago people came up with pyramid schemes which Kenyans thought would alleviate their poverty. Majority of the pyramid schemes ended up being scams that impoverished Kenyans. People are asking how they will be assisted. People ran away with money belonging to those who had joined the pyramid schemes. At that time we were told that the Central Bank of Kenya had frozen those accounts, but up to date we have nothing to show for that. Committees have been constituted to look into this issue, but at the end of the day it is discovered that the people who fleeced them are the ones who pull shots here and there. It is, therefore, difficult for the mwananchi to be assisted to recover his money that he invested in the so-called magical pyramid schemes. These are areas that we need to strengthen. It is high time we supported this Motion and have the Central Bank of Kenya take control. When one joins these microfinance institutions and borrows money he should be protected. At the end of the day he should be able to get his money and that his sufurias and other properties are not taken away. I stand to support this Motion."
}