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{
    "id": 723107,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723107/?format=api",
    "text_counter": 209,
    "type": "speech",
    "speaker_name": "Hon. Wamunyinyi",
    "speaker_title": "",
    "speaker": {
        "id": 291,
        "legal_name": "Athanas Misiko Wafula Wamunyinyi",
        "slug": "athanas-wamunyinyi"
    },
    "content": "goals if we have good regulations, guidelines and a framework within which SACCOs will operate. It is, therefore, important that these regulations be passed by this House to ensure that we have a good law to regulate the industry. Hon. Temporary Deputy Speaker, you and I are Members of BUCOSO and we have benefited from the savings. I expect that we are going to have reasonable dividends paid out in the near future. These savings are good for us and everybody in Kenya because they help us to move forward and ensure that we support the culture of saving. There is also a provision which is interesting, that the Authority shall determine the suitability and propriety of every person seeking to serve as director or other officer of a SACCO society and may bar or prohibit a person from serving in a SACCO society as a director or an officer based on its determination. You have seen some societies where we have people who have not even seen the inside of a classroom as officials, particularly in coffee cooperatives societies. Some of them have collapsed because of poor management. The people involved in running them are not qualified and have no knowledge, but because of certain reasons, they find themselves elected and serving in those positions. Directors in some SACCOs will have to go through that Authority to secure approval before they get the positions. The other important aspect that I note in the Bill is the fact that all the members will have to be registered as members of the society. There will be an Annual General Meeting (AGM) to give credence, so that the members will participate in the movement and they will benefit from its activities. Without taking so much time and going back to what other Members have said, I would like to appeal to the Members to facilitate the passage of this Bill, so that we have a good law in place to regulate SACCOs in our country. With those few remarks, thank you."
}