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{
    "id": 101198,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/101198/?format=api",
    "text_counter": 14,
    "type": "speech",
    "speaker_name": "Mr. Ojode",
    "speaker_title": "The Assistant Minister, Ministry of State for Provincial Administration and Internal Security",
    "speaker": {
        "id": 197,
        "legal_name": "Joshua Orwa Ojode",
        "slug": "joshua-ojode"
    },
    "content": " Mr. Deputy Speaker, Sir, I beg to reply. Mega Initiative Welfare Society was formed in the year 2004 by about 3,000 members under the Chairmanship of one Peter Kuguru. In 2005, the Society resolved to form Mega Bank Ltd. with a board of Directors chaired by Prof. Francis Gichaga. But by 2007, the Society had only raised Kshs42 million which was short of the Kshs250 million required to form a bank. As a result the members resolved to form a micro-finance institution instead in their meeting held on the 20th July, 2007, at Sagret Hotel, Nairobi under directorship of the Board of Directors of Mega Bank Limited. This meeting was chaired by Mr. Peter Kuguru."
}