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{
    "id": 183719,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/183719/?format=api",
    "text_counter": 263,
    "type": "speech",
    "speaker_name": "Mr. Nyagah",
    "speaker_title": "The Minister for Co-operative Development and Marketing",
    "speaker": {
        "id": 269,
        "legal_name": "Joseph Nthiga Nyagah",
        "slug": "joseph-nyagah"
    },
    "content": " Thank you, Mr. Deputy Speaker, Sir. I wish to thank the very many Members of Parliament, who last week contributed to this very important Bill; the SACCO Societies Bill, 2008. The points that they made are welcome. As I indicated on Thursday when this Bill was introduced, the relevant Departmental Committee had gone through it in great detail. They had spent a lot of time. They had brought in experts to look at it. They had interviewed Members of Parliament, my Ministry officials and several stakeholders in the co-operative movement from the Kenya Union of Savings and Credit Co-operatives (KUSCO), the Co-operative Insurance Company (CIC) and rural SACCO people. They had interviewed everybody. I would like to thank every single person who has assisted us. Mr. Deputy Speaker, Sir, as we were told from the beginning, it has taken close to three years for this Bill to come to the Floor of this House partly because of misunderstandings and people who were opposed to it. However, I am happy that this House has demonstrated to those who feared that they will be disadvantaged by this Bill going through, that they have nothing to fear and worry about. This Bill is very good. It will encourage competition in the financial sector. As you know, in the financial sector, commercial banks, mortgage funds, investment banks and SACCOs are competing for the financial base of this country."
}