{"id":685391,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/685391/?format=json","text_counter":24,"type":"speech","speaker_name":"Hon. Njuki","speaker_title":"","speaker":{"id":1372,"legal_name":"Onesmus Muthomi Njuki","slug":"onesmus-muthomi-njuki"},"content":"Thank you, Hon. Deputy Speaker. I know you are used to seeing me sitting behind Hon. Duale. I am running away from him. Thank you for the opportunity to present a Petition on behalf of the members of the Meru South Cooperative Savings and Credit Society Limited (MESACCO) on debt waiver. I, the undersigned on behalf of members of Meru South Cooperative Savings and Credit Society Limited in Tharaka Nithi County draw the attention of the House to the following:- THAT, Meru South Cooperative Savings and Credit Society was registered on 3rd May, 1972 under the provisions of the former Cooperative Societies Act; THAT, the SACCO’s membership was drawn from employees of the Meru South Cooperative Union, its affiliate societies and marketing unions; THAT, in 1991, Meru South Cooperative Savings and Credit Society Limited borrowed a loan of Kshs36,677,385.50 from the Cooperative Bank of Kenya for construction of a building in Chuka Town, which was completed in 1995; THAT, part of the loan was lent to members in the coffee farming sector; THAT, in mid1996, the SACCO had raised Kshs22 million which was used as part payment of the loan and accruing interest; THAT, in the late 1990s, there was collapse of the coffee industry leading to loss of jobs of most employees of coffee co-operative societies and those in the coffee sector; THAT, most members of the SACCO were left jobless and were unable to repay their loans and consequently the SACCO was unable to service the bank loan; THAT, due to the collapse of the coffee societies and unions within the area of operation, the Meru South Cooperative Savings and Credit Society is ailing and in dire need of revival; and, THAT, the society has on numerous occasions sought assistance from the Ministry of Cooperative Development in order get a waiver on the existing loan balance of Kshs29,787,610 owed to the Cooperative Bank of Kenya. 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."}