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{
    "id": 50138,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/50138/?format=api",
    "text_counter": 256,
    "type": "speech",
    "speaker_name": "Mr. Kenyatta",
    "speaker_title": "The Deputy Prime Minister and Minister for Finance",
    "speaker": {
        "id": 168,
        "legal_name": "Uhuru Muigai Kenyatta",
        "slug": "uhuru-kenyatta"
    },
    "content": " Mr. Temporary Deputy Speaker, Sir, Mr. James Maina Kamau has asked a question about rates and I think I mentioned it in my Statement that rates currently charged to the target group range between 20 per cent and 30 per cent. One of the objectives of this fund was to try and ensure that we reduce that rate. However, like I said, this has been left to banks with ourselves monitoring. One of the criteria used in terms of using M-banking platforms and other cost-reducing efforts as well as being able to use this facility--- One of the principle objectives is to reduce this rate of interest from a high of, say, approximately 30 per cent. Our target originally was that this should be provided for between 14 per cent and 16 per cent. This was what we had already envisioned, but like I said, this will largely be left to banks, similarly to the same programme that we had under AFD."
}