Lee Kinyanjui

All parliamentary appearances

Entries 271 to 280 of 1318.

• 2 Nov 2011 in National Assembly: (b) The criteria for lending the funds were not on a constituency basis, but on the ability of the borrower to meet the lending requirements of the participating banks. As at 31st August, 2011, the three participating banks had disbursed a total of Kshs9.6 billion to 48,244 borrowers. This works out to an average of Kshs198,099 per borrower and to a ratio of 12.7 lent out by the participating banks for every one shilling lent by the Government. view
• 2 Nov 2011 in National Assembly: (c) The procedure for applying funds from the Fund includes: view
• 2 Nov 2011 in National Assembly: 1. The banks matching contribution ratio to the Government of Kenya loan at a minimum ration of I:5 for the credit and 1:0.5 for capacity building. view
• 2 Nov 2011 in National Assembly: 2. Any person wishing to apply for the funds from the Fund requires to approach any of the three banks to apply using the stated criteria. view
• 2 Nov 2011 in National Assembly: 3. Participating banks then meet their normal lending requirements in order to qualify for the MSE Loan. The three banks are: The Co-operative Bank, the K-Rep Bank and Equity Bank. view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, the hon. Member is correct. We have had various concerns from various constituencies of groups that are collecting funds and purporting to be disbursing the funds. It is for this reason that the Ministry of Finance wrote to the Permanent Secretary in the Office of the President in charge of Provincial Administration and Internal Security instructing them to issue warnings to members of the public and also instruct the police to ensure that all those people undertaking those activities are apprehended. Further to that, early in the year, we carried an advert, that is, on 14th ... view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, I believe that the letter by itself might not be sufficient. However, as we have indicated, we also ran an advert in the DailyNation and other newspapers. I wish to state that the Office of the Deputy Prime Minister and Ministry of Finance cannot directly arrest and prosecute these people. It is for that reason that we have sought the assistance of the Ministry responsible. The Question, however, did not entail the information the hon. Member is asking for. In the event that he wants us to table the list showing the number of people arrested, ... view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, I want to clarify the first question on how the Fund grew to Kshs3.8 billion to Kshs89.6 billion. I have indicated that the Government was to contribute Kshs3 billion and for every shilling that the Government contributed, the other banks should contribute Kshs5. So, if the Government gives Kshs3, then the banks collectively would multiply by five. That is basically what we mean. So, Kshs3 is what the Government was bringing and then, the Kshs0.8 million would go to capacity building. One of the areas that has been found wanting in terms of MSEs is that, ... view
• 2 Nov 2011 in National Assembly: Lastly, on the same question, the money is to be repaid to the banks. That is why it was very necessary for the Government to ensure that it gives money to the banks which have a good track record in that sector of the economy. As you may be aware, K- Rep Bank, Equity Bank and Co-operative Bank of Kenya have a good track record in terms of ensuring that their loans are repaid. Therefore, that is not free money to Kenyans. That money must be repaid. view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, I appreciate the question by the hon. Member. I also wish to say that, for a long time, Kenyans took money from banks with no intention of repaying. I think we must agree on the following: If you say that the Government has given Kshs3 billion and tell all the people to go and queue there, nobody will pay. So, we need to know where you come from, what is your business plan and all that. If that intimidates people, then it is up to us to enlighten the public so that they can take advantage ... view