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{
    "id": 784186,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/784186/?format=api",
    "text_counter": 10,
    "type": "speech",
    "speaker_name": "Hon. Wakhungu",
    "speaker_title": "",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "Yes. Thank you, Hon. Speaker. The Petition is timely. In the last Parliament, we passed the interest cap law. We expected the demand for loans to go high in respect to the law of demand and supply. You know, when the price goes down, under normal circumstances, you expect the demand to go up. Unfortunately, instead of the banking industry supplying more capital or money to the people who want to borrow, they have been so restrictive that even the demand has gone down. It is true. Some time back, one of my constituents went to borrow some money from a micro-finance institution. I was so shocked that the percentage interest was about 25."
}