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{
    "id": 956077,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/956077/?format=api",
    "text_counter": 326,
    "type": "speech",
    "speaker_name": "Ugenya, ODM",
    "speaker_title": "Hon David Ochieng’",
    "speaker": {
        "id": 1007,
        "legal_name": "Christine Oduor Ombaka",
        "slug": "christine-oduor-ombaka"
    },
    "content": "I wish the Government of Kenya, the Central Bank of Kenya and the National Treasury could agree with these banks that they are going to look at their license and renew it depending on how much of their lending goes to the SMEs so that we reduce what the Hon. Member talked about: reduce the appetite for banks to keep hoping that they are going to lend money to Government and get super profits. We need to put in place a percentage of their lending to go directly to SMEs. They should tell the amount of money they give out to SMEs in a particular year to help them do business and show the concessions they have given them. If you go to Dubai where Kenyans go, you will find that interest rates are as low as 2 or 3 per cent. In Singapore, the President talked about, interest rates being very low. People are able to access loans to do business. In the country today, we have what we call Access to Government Procurement Opportunities (AGPO). We hope young people can do business. They get tenders but cannot service them because no bank wants to touch them. So, if they cannot touch an 18 or 19 year old, who is doing a cleaning business or a 21 year old who is doing a small business and has got a tender from a county government and needs just Kshs40,000 to do something; they decline to lend them money because they want to lend money to big people, how patriotic are they?"
}