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{
    "id": 723033,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723033/?format=api",
    "text_counter": 135,
    "type": "speech",
    "speaker_name": "Hon. Maanzo",
    "speaker_title": "",
    "speaker": {
        "id": 2197,
        "legal_name": "Daniel Kitonga Maanzo",
        "slug": "daniel-kitonga-maanzo"
    },
    "content": "the name of our own SACCO and call it a deposit-taking SACCO. Each one of us deposits and saves money there. We can take credit and borrow from our own SACCO. The SACCO movement is so streamlined and the law is so good that what was left is the rest of the amendments which are very good. When you insist on Clause 27 (a) and (b), you will not be assisting the movement at all. You will just be over-legislating and over-burdening Kenyans. Even in the definition of “SACCO,” Section 4 of the Act clearly says that it is a deposit-taking institution. You take money from members. Every registered SACCO in Kenya takes deposits. It is already legislated and it is in public knowledge and notoriety. It is just like legislating for when the sun will rise from the East and set in the West. Everybody in the world knows that. For the Commissioner of Co-operatives to first and foremost register a SACCO, that word “SACCO” already says it is a deposit-taking institution and it has a regulatory framework from the Co-operative Societies Act to the SACCO Societies Regulatory Authority Act (SASRA). The SASRA Act was done by the regulating authority which is well structured only that it is currently having challenges because the current Chairman is going to run for governor and the CEO has been acting for a long time. This has caused the movement a lot of strain. The last time I consulted with the Ministry, they were putting mechanisms in place so that a new CEO of SASRA can be hired so that the body can work well. When the Bill comes to the Third Reading Stage, I will propose some amendments to Clause 27(a) and (b) so that we can satisfy Kenyans. I want to thank you, Hon. Speaker, for looking at the law very well and for ruling that it must be taken to the Senate. Even in our own SACCO in Parliament, one of the officers we work with comes from Nairobi County and operates from Nyayo House and yet, our Office is here in Parliament. In all the counties, out of the 176 SACCOs regulated by SASRA, there are four or so of the big ones in every county. Therefore, in the far-flung counties from Mombasa to Garissa to any of the farthest counties from Nairobi--- Meru is the best example so far. The Governor of Meru County is regulating the SACCOs very well. He is working with the Commissioner of Co-operatives and they are keen. The governors have an officer who reports to them and devolution is served properly. The SACCOs are two-tier. They are at the grassroots level and the national level. There are also international organisations which build capacity in SACCOs. Whatever we do must resonate with what is happening in America. They have the best credit unions. Jamaica follows a similar model like ours. South Africa and many other African countries have copied from us. In fact, Kenya is leading in the SACCO movement in Africa and many other countries are copying Kenya and our legislation. If we begin making legislation that is confusing, we will not only confuse our own people in Kenya, but the rest of Africa. We have to resonate with the rest of the world. That is why there are yearly conferences to look at the laws especially those done by the Kenya Union of Savings and Credit Co-operatives Limited (KUSCCO), the head body in Kenya whose Managing Director, Mr. Ototo, also belongs to the international body dealing with the co-operative movement in the world. He sits on that board. Kenya won that election this year. For a long time, it has been a Malawian who lost to a Kenyan. They are able to check on regulations and there are meetings on regulators all the time. Our own regulator must work and resonate with the rest of the world because the co-operative principles are the same. The idea is to safeguard depositors’ money to make sure that it is safe. That has been taken care of by the rest of the amendments, but not by Clause 27(a) and (b). Therefore, as I have indicated to the House, I will propose some amendments to those two sections of Clause 27. The rest of the Bill is very good. I support the rest of the Bill, but not Clause 27(a) and (b). It is 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."
}