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{
    "id": 850162,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/850162/?format=api",
    "text_counter": 467,
    "type": "speech",
    "speaker_name": "Garissa Township, JP",
    "speaker_title": "Hon. Aden Duale",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Prior to the enactment of the SACCO Societies Act of 2008, SACCOS were regulated under the Cooperatives Societies Act, Cap.490. However, the rapid growth of SACCO societies in our country has created the need for their specific legislation. They can no longer hibernate or be under the Cooperatives Societies Act. That is the reason a specific legislation was enacted which was called the SACCO Societies Act of 2008, in order to create a regulatory framework and supervisory mechanism, in terms of dealing with the operations of SACCOs. So the enactment of the SACCO Societies Act, 2008 made provisions for licensing SACCOS, regulation and supervisory mechanisms. There was also provision for SACCO Societies and the establishment of SACCO Societies Regulatory Authority (SASRA)."
}