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{
    "id": 467056,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/467056/?format=api",
    "text_counter": 246,
    "type": "speech",
    "speaker_name": "Hon Eric Keter",
    "speaker_title": "",
    "speaker": {
        "id": 1208,
        "legal_name": "Eric Arap Keter",
        "slug": "eric-arap-keter"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker. I rise to support this Bill. The microfinance sector in this country plays a very major role in boosting the economy of our youth in our villages. In fact, they call it the poor man’s bank. All women and young people can access banking facilities. We have these banks and they have taken many years to reach the ordinary mwananchi in the village. So, when we strengthen these facilities, we are indeed, strengthening the youth and women. By doing so, we are boosting the economy of these people. Any ordinary person in the village can afford this. For example, a casual who is paid Kshs50 or Kshs100 a day is able to bank that money. This is very important. However, I take this caution. We need proper regulations on management and registration on how this can be done effectively so that in the process, we do not turn these institutions into places where money is misused and taken from the beneficiaries. So, we require proper regulations so that we support these people."
}