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{
    "id": 1495549,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1495549/?format=api",
    "text_counter": 433,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": "We have also seen the mushrooming of what were called land-buying cooperatives. People would come together, form land-buying societies, collect money, and buy land in some far-flung corner of the country where land is valueless. I can see some people smiling because they have been victims of some of those swindlers. People buy land that is often overpriced. This Bill provides very stringent measures on how those who register housing cooperatives will manage people's funds. If you want to register a land-buying cooperative, there are stringent measures on how to do so because there will not just be the categorisation of primary and secondary cooperatives, cooperative federations or apex cooperatives. The Bill also breaks down the manner of cooperatives that you can register, right from consumer, producer, housing, and savings and credits cooperatives. There are also savings and investment cooperatives. In the past, savings and credit cooperatives, which are the SACCOs, were also the savings and investments like those of us who are members of Safaricom SACCO and other SACCOs. I am a member of Mhasibu SACCO. That is because they are professionally managed, and have an investment arm that deals, for instance, in land buying and housing development. Many of the very well and professionally managed cooperatives have their investment arms. It is not possible even to register a cooperative under this law as a savings and investment cooperative. If you want to deal with just savings and credit, then you can have that. If you are in housing, there are housing cooperatives, producer cooperatives, for instance, for our farmers in the coffee and tea sectors that are producing. Transport cooperatives, in the Matatu and boda sector and Tuk-Tuk that has become very famous now across the country. In Kitengela today, I saw a whole street full of Tuk-Tuks. We want to organise so that those Tuk-Tuk owners can join cooperatives so that they are able to manage their societies better. As for the consumer cooperatives, it is important to have consumers form their own cooperatives to access cheaper commodities from producers. I do not want to belabour a lot of"
}