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{
    "id": 1497246,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1497246/?format=api",
    "text_counter": 241,
    "type": "speech",
    "speaker_name": "South Mugirango, UDA",
    "speaker_title": "Hon. Silvanus Osoro",
    "speaker": null,
    "content": " Thank you very much, Hon. Deputy Speaker. I first want to take this opportunity to thank all the Members who have contributed to the Bill, and to also appreciate the immense support that they have accorded it. The Bill has received unanimous support, clearly showing that it was timely. This is what Kenyans need at this point in time, especially in terms of coming together and putting resources together. I wish to remind the public and Members that the Bill’s intent is rooted in Article 186 of the Constitution. It is part of a broader national co-operatives policy whose intent is to harmonise the governance of co-operatives across the counties and ensure uniform standards, while respecting devolution. The previous Act did not consider the devolved units. That why it is very important that we harmonise the management of co-operatives between the counties and the national Government, and make it easy. The Bill also addresses the sectoral challenges that arise from governance and financial resilience, which seeks to improve co-operative governance by embedding principles of transparency and strong financial oversight, thereby protecting members’ investments. We all live in this country. We have seen people coming up with savings and credit co-operatives (SACCOs) to hoodwink Kenyans who have a genuine intent to grow their wealth. They invest with those SACCOS imagining that those investments will positively grow their wealth. Instead, those people steal their funds. Such scenarios are rampant in the entire country. Everybody has faced such. Some pose as co-operatives, but they end up being pyramid schemes. We all know of the pyramid schemes that have existed in this country such as DECI. Even the men of the cloth form co-operatives and tell people that they want to buy land or property. They hoodwink and"
}