Lee Kinyanjui

All parliamentary appearances

Entries 281 to 290 of 1318.

• 2 Nov 2011 in National Assembly: I also wish to say that, out of the money that we have already been able to give, Equity Bank has given money to 38,000 people who applied for it. K-Rep Bank has given the money to 9,117 people and Co-operative Bank has given to 1,066 people who applied. That is as at 31st September, 2011. As I indicated earlier, those banks have a wide branch network across the country. For example, K-Rep Bank has 34 branches; Co- operative Bank has 89 branches and Equity Bank has 170 branches. Therefore, almost every constituency in the country, in one way or ... view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, the instructions from the Ministry of Finance to those banks is that the groups that we are targeting have no title deeds and do not have the traditional collateral that would otherwise be expected. It is for that reason that the Government was matching its funds. Therefore, the sort of collateral they are asked to bring is basically what they have, which includes even stocks. If you have a shop, that shop can become part of your collateral. Others are groups and so, they can be able to guarantee one another. I want to correct the ... view
• 2 Nov 2011 in National Assembly: Regarding the interest rate at which we were giving the money to the banks, it is at 6 per cent. We expect them to lend the money at a fairly competitive rate. The Government is giving the money to the banks at 6 per cent. But as to the lending, it depends on the market. We cannot dictate rate that the banks will be lending at because for every shilling we give, they give five. So, there is no way the Government can dictate how much it will lend its component. What we have done is that, previously, they have ... view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, that has not changed. The rates are still reasonable if you compare them with other markets rates. view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, as I have indicated, the agreement was that the rates will be reasonable at all times. Number two, the banks will have a wide network so that they can reach out, almost, to all--- view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, the rate, so far has been between 14 per cent and 16 per cent. However, even then, it is good for hon. Members--- view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, I hear the hon. Members. However, I wish to state that for every shilling you are giving, the bank is also giving Kshs5. That means that the Government has given to the banks Kshs1. However, the rate you are asking with regard to what they are borrowing includes what the bank has given itself, together with what they have given. Therefore, if you look at the rate of 14 per cent to 16 per cent--- view
• 2 Nov 2011 in National Assembly: Mr. Deputy Speaker, Sir, the statement by the hon. Member is not backed by facts. I have indicated that by 31st September, we had already disbursed over Kshs9 billion. So, if it is, indeed, true that members of the public were shunning this Fund, we would not have achieved that kind of success. view
• 2 Nov 2011 in National Assembly: Mr. Temporary Deputy Speaker, Sir, I thank you for granting me the opportunity to participate in this debate. I want to congratulate hon. Maina Kamau for finding time to bring this matter to the attention of the House and, indeed, to the attention of the nation. As we may be aware, many thousands of Kenyans today have been diagnosed with cancer and, as a nation, we appear to be unprepared to deal with the catastrophe that is here. I wish to remind the House that around 2008, a few Members of Parliament had wanted to bring this Bill to the ... view
• 26 Oct 2011 in National Assembly: Mr. Speaker, Sir, indeed, it is true that this Question had come before and I had given an undertaking to the hon. Member that we will look for funds to construct the remaining part. I think the hon. Member is satisfied with that answer. That being the case, maybe, we do not need to go over it again. view