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{
    "id": 736745,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736745/?format=api",
    "text_counter": 80,
    "type": "speech",
    "speaker_name": "Hon. Maanzo",
    "speaker_title": "",
    "speaker": {
        "id": 2197,
        "legal_name": "Daniel Kitonga Maanzo",
        "slug": "daniel-kitonga-maanzo"
    },
    "content": "Now that they have been lumped up, it is clear that whatever agreements the sector made with the Ministry of Finance and the Ministry in charge of SACCOs to operate on their own seems not to have been taken on board while making this law. Though it has gone through the Cabinet and passed, it is now with us and I think this sector, which is controlled by about 14 million Kenyans, is still not very settled with the arrangement. They worked very hard in the year 2007/2008 to come up with their own laws having made sufficient consultations. I tend to believe the consultations did not add up. By and large, this is a great idea. It puts together similar authorities. It will save the country money in terms of the way financial services will be regulated. It will collapse the different authorities into one. For example, the three major ones like the CMA, IRA and the RBA. I would like to insist that the SASRA or its successor is different from the three. Before we pass this law, because the work of Parliament is to pass laws, it is good to reconsider that position and make the necessary lobbying, so that SASRA is excluded. It will not cost the Government much and this Act will have achieved its purpose. It will serve Kenyans and their net savings because most of these organisations are involved with members’ savings. The country’s savings will be monitored. This is where people borrow and grow their businesses and the economy."
}