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{
    "id": 723094,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723094/?format=api",
    "text_counter": 196,
    "type": "speech",
    "speaker_name": "Hon. Rotino",
    "speaker_title": "",
    "speaker": {
        "id": 2774,
        "legal_name": "Philip Lotiolo Ruto Rotino",
        "slug": "philip-lotiolo-ruto-rotino"
    },
    "content": "Hon. Temporary Deputy Speaker, could you protect me from the Members who are making a lot of noise? They can as well go out to do that. I was saying that co-operative societies have grown. This country has developed through loans sourced from co-operative societies. The co-operative movement is leading in this country in terms of bringing people together. This Bill is important and timely because it intends to regulate the manner in which co-operators’ savings are managed. It is important to regulate co- operative societies because they handle money from small-scale farmers and business people operating at our markets. These people come together to raise and save their money to develop themselves. It is important that we regulate these institutions. The Bill intends to control the deposits that depositors have raised. In controlling the deposits, we need people with integrity, people who can be respected and who can take care of the little money that depositors save with co-operative societies. It is important that the Bill helps us to control the money that depositors put in co-operative societies. Officers that manage cooperative societies are supposed to be scrutinised to ensure that they take care of the savings of small-scale businessmen and farmers. The qualifications of the officers who take care of the deposits are vital. We cannot afford to pick anybody from the streets and give them the responsibility of managing people’s savings. The Bill seeks to regulate the qualifications of those who will be managing co-operative societies to ensure that co-operative societies employ qualified people with relevant experience. This Bill has come to the House at the right. Once passed into law, it will help our co- operative societies. It is important for us to also look into the issue of credit information sharing. There are people who borrow money from co-operative societies, default and proceed to borrow more money from banks. It is important that this Bill is enacted."
}