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{
    "id": 77583,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/77583/?format=api",
    "text_counter": 316,
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    "content": "directed at the Minister, whereas he was never subject of the questions before the Committee. The questions I raised were also never about shares being bought by this co- operative. Shares are traded in the Stock Exchange and shares belonging to the Co- operative Bank are traded through a registrar within the bank. They are not traded in the ordinary stock exchange market. So, these questions were never about a commercial transaction. If anybody had issues with how the commercial transaction of buying shares from Gina Din was conducted or whether the SACCO officials had authorization to buy, that is an internal SACCO matter and can never be an issue for raising in the House. Those are the two unfortunate events. The focus of the Report has dwelt on those two issues which were not the issues that brought us to ask the Question in Parliament. I think we must be very careful how we conduct business so that we do not drag parties who were not subject of the focus into the matter. Mr. Temporary Deputy Speaker, Sir, the Committee has admitted that there are problems within the SACCO. The Attorney-General admitted the same thing. The Attorney-General was stronger than the Committee and admitted that there is rot within the SACCO. It is time the Government, through the Minister for Co-operative Development and Marketing and the regulator entered this giant SACCO to streamline its operations. The fact that documents that can unearth the truth can get lost is in itself an indictment on the SACCO management. This SACCO collects over Kshs500 million a month. The fact that it has a surplus of Kshs3.5 billion is not necessarily a pointer to good management. After all, these are the collections of only seven months, without factoring in interests, loan repayments et cetera. I think once membership of an organization raises issues, those issues should be attended to with reasonable dispatch to rest them. It is my hope that the Minister and Government will liaise with the Kenya Anti- Corruption Commission (KACC), so that it may speedily do the forensic audit to bring this matter to a closure. How can the largest SACCO not only in Kenya but in Africa, have unfinished business for the last one decade? It is, again, an indictment on the leadership, our institutions and investigation agencies. If the allegations are not true, let them be dismissed conclusively. If they are true, let them be followed conclusively. Also, we need to see somebody over the loss of documents. An organization is all about its records. Once you destroy records, you destroy the integrity of the systems of that organization. Mr. Temporary Deputy Speaker, Sir, the Mwaliko Report also raises issues that need to be attended to both in our law and practice. It is not proper that a co-operative society under investigation should pay any sort of allowance to the people investigating it. If it has to pay at all, that money should be paid to another entity or the Ministry to be able to defray those expenses. But officers who are investigating you receiving money from you, that compromises the investigation. Look at how much money the Mwaliko Committee got. It got Kshs8.8 million. That is an exaggeration. There cannot be honoraria going to those figures. I think that this is an area which needs to be looked into. There also ought to be policy. I know that there are people who have managed the SACCO. I know in my area of a SACCO that has had the same top leadership for more than 15 years and it is one of the best performing SACCOs. So, longevity is not"
}