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{
    "id": 844880,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/844880/?format=api",
    "text_counter": 287,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr.) Wilberforce Oundo",
    "speaker": {
        "id": 13331,
        "legal_name": "Wilberforce Ojiambo Oundo",
        "slug": "wilberforce-ojiambo-oundo-2"
    },
    "content": "While the proposal by Hon. Jude Njomo seems very laudable and timely, I have a few concerns and because of those concerns, I request him to either withdraw it or redraft the particular amendment to avoid three critical issues. One is a case of over-regulation and generally stifling decision-making in banks. Specifically, the problem that SMEs in this country have in terms of accessing loans is not unavailability of funds. It is lack of collateral by SMEs and outcomes of risk assessment of some SMEs by banks. Let us deal with the aspect of giving CBK powers to make regulations, rules and systems that can allow SMEs to access credit on more favourable terms so that we allow ourselves enough time to develop tools, regulations and approaches that will enable banks to lend to SMEs without stifling the work of banks. Generally, Uwezo Fund, Women Enterprise Fund, Youth Enterprise Development Fund, Development Bank and Kenya Industrial Estates (KIE) have adequate funds for SMEs. The problem lies in credit evaluation, risk management and the issue of collateral. I ask Mheshimiwa Jude Njomo to relook at this and either withdraw or redraft it, shifting the burden of proposal to the Central Bank of Kenya because even the issue of 30 per cent women and the rest is not law. It is a Government policy."
}