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{
    "id": 3668,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/3668/?format=api",
    "text_counter": 513,
    "type": "speech",
    "speaker_name": "Mr. Mututho",
    "speaker_title": "",
    "speaker": {
        "id": 97,
        "legal_name": "John Michael Njenga Mututho",
        "slug": "john-mututho"
    },
    "content": "Madam Temporary Deputy Speaker, caution would, however, be on the cost of this insurance. It is also good to do an economic evaluation to see whether when we insure the deposits, in the long run, it will be an open valve for the erosion of the value of the said funds. So, I would persuade the Minister to look into minimizing the risk in licensing such deposit collectors; he should also look at new ones, particularly the ones that are coming in now. The M-PESA facility and others are likely to hold huge amounts of money. Insuring those kinds of deposits becomes a challenge. The reason as to why I am saying this is that, if you look at the amount of money held by SACCOS, for instance, and look at the management of those SACCOS, you realise the exposure of the depositors."
}