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{
    "id": 723076,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723076/?format=api",
    "text_counter": 178,
    "type": "speech",
    "speaker_name": "Hon. F. K. Wanyonyi",
    "speaker_title": "",
    "speaker": {
        "id": 2065,
        "legal_name": "Ferdinard Kevin Wanyonyi",
        "slug": "ferdinard-kevin-wanyonyi"
    },
    "content": "Thank you, Hon. Speaker for the opportunity. From the outset, I rise to support the Bill which is going to bring some sense into the society where people have suffered. There are glaring examples where people are suffering because somebody woke up one morning and convinced them to come together and called themselves a SACCO. It is misuse of the word “SACCO”. It should be deleted because, as stated in Clause 27(a) concerning DTS, you will see SACCOs for everything. I have seen matatu and land buying SACCOs. In essence, we have DTS and we have had cases where people have killed each other because of their deposits in SACCOs. In my area of Trans Nzoia, we had Kitale Investment SACCO, which went into buying land and construction. To date, people have not accessed their funds and two or three people have died because of issues from the SACCO. Once passed, the Bill will bring sanity and SACCOs will be regulated."
}