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{
    "id": 680901,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/680901/?format=api",
    "text_counter": 231,
    "type": "speech",
    "speaker_name": "Hon. Ogolla",
    "speaker_title": "",
    "speaker": {
        "id": 1264,
        "legal_name": "Gideon Ochanda Ogolla",
        "slug": "gideon-ochanda-ogolla"
    },
    "content": "Thank you, Hon. Speaker. At the outset, I want to say that I support the substance of this Motion. We should remember where we came from. There is an old adage that once bitten, twice shy. We have witnessed this before in this country with the pyramid schemes. There were no regulations, legislation or laws. You could not even place those pyramid schemes anywhere because they were not Savings and Credit Cooperative Societies (SACCOs) nor banks. They were operating in this country as though the nation was asleep. Many people lost their lives and others lost huge amounts of money. The Government is still required to pay some of the people who were dealing with pyramid schemes. The Leader of the Minority Party is reminding me that this is exactly what is happening. If we are not careful, we are going to lose a lot. We are without a regulation in the face of a lot of money in the hands of people who are not in the Government. There is a big danger that we are facing a bad situation. It has been said by my colleagues that huge amounts of money are flying around. This is why some of us do not see the direction those monies are going to. Some of us are even worried how we can put in some controls in terms of how that money is flying. We cannot allow a The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}