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{
    "id": 49193,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/49193/?format=api",
    "text_counter": 107,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "Mr. Speaker, Sir, the Nyenze Report was commissioned by the Minister for Co-operative Development and Marketing. When the culprits knew that they were about to be caught, they converted their schemes into SACCOs. These SACCOs were squarely under the Ministry of Co-operative Development and Marketing. Because of the nature of these pyramid schemes, the SACCOs collapsed and when they collapsed they became hot potatoes in the hands of the Minister for Co-operative Development and Marketing, because cooperatives are registered by the Government. We have taken steps, as a Ministry, to advise the Minister for Co-operative Development and Marketing to consider drafting a Bill which will establish a fund like the Deposit Protection Fund (DPF) under the CBK, which can protect SACCOs when they fall victims of such schemes."
}