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{
    "id": 723044,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723044/?format=api",
    "text_counter": 146,
    "type": "speech",
    "speaker_name": "Hon. Gikaria",
    "speaker_title": "",
    "speaker": {
        "id": 2489,
        "legal_name": "David Gikaria",
        "slug": "david-gikaria"
    },
    "content": "Further to the conditions that have been given for purposes of registration, it is important for us to look at them very critically. It is true that if you look at what the SACCOs have done within the small village communities particularly in our backyard, we will go a long way. We are happy. For example, in Nakuru County, small-scale traders have started their own Wakulima Market and it is doing wonders. We assisted them with money from the Uwezo Fund by giving them just Kshs4 million. If you look at the Wakulima SACCO as it is now, they have, within just less than two years, a turnover of up to around Kshs10 million. They asked members to save with them and now, most of those peasants and small-scale farmers who were going to shylocks where they were being charged heavy interest rates--- If you borrowed Kshs10,000, you would forever be paying the interest and the principal would always remain. We have been able to eliminate the shylocks in the market and people are now able to get loans, do business, comfortably pay the loans and undertake other things."
}