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{
    "id": 467014,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/467014/?format=api",
    "text_counter": 204,
    "type": "speech",
    "speaker_name": "Hon. (Prof.) Nyikal",
    "speaker_title": "",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": "Thank you, Madam Temporary Deputy Speaker for the opportunity to contribute to this Bill. The greatest problem we have had in Kenya about those people who live off small businesses in the markets, fish landing beaches, or roadside kiosks has been lack of small level financing that they require to promote their businesses. These finances do not require any collateral that many of them cannot get. This area has been dominated by women and youth that are struggling to get themselves employed. This has been evidenced by the merry-go-rounds where people collect money for each other and the table banking. Through these, many families have found livelihood. Children have been fed and they have gone to school through these small businesses. We have heard evidence that the Women’s Fund that I have had opportunity to work with, indicated the desire for funds that can be easily accessed and the chamas that we know about have shown this need. Indeed, the banks that have targeted this market like Equity and Family banks have actually been the mainstay of local banking and local bank systems in this country. You are aware that the big banks have always been a threat to the small business people with large collaterals and sometimes the women have put it, when I was dealing with the Women Enterprise Development Fund (WEDF), that the banks are so frightening that you just feel you do not belong there."
}