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{
    "id": 850195,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/850195/?format=api",
    "text_counter": 500,
    "type": "speech",
    "speaker_name": "Emuhaya, ANC",
    "speaker_title": "Hon. Milemba Omboko",
    "speaker": {
        "id": 13328,
        "legal_name": "Jeremiah Omboko Milemba",
        "slug": "jeremiah-omboko-milemba"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. At the outset I would like to thank the Chair and the Committee on Trade, Industry and Cooperatives for having brought this Bill having explained that it was in the previous Parliament and “died” in the Senate. This is a Bill which is meant to be watched keenly. I have consulted with the Chair because I was looking through my background of having come from the teaching sector and trade union sector where we have established so many SACCOs in Kenya and we enjoy the benefit of having established and controlled the biggest SACCO not only in Kenya but in Africa, which is the Mwalimu SACCO. After going through and consulting the Chair, I noticed that this Bill is for the holistic good of the sector. It mainly concerns itself with the issues of registration, licensing these SACCOs especially the deposit-taking SACCOs and also the issue of information sharing between the SACCOs, which I noticed that it will go a long way not only to benefit the SACCOs but also to protect the members who are in these SACCOs so that their money is safeguarded. Therefore, we shall not have the previous histories where we had small SACCOs which tended to multiply from the main one and later on disappeared with our money. We have a few examples which I would not want to mention because we are being covered live. In the sector of teaching, many of the teachers lost money courtesy of proliferation of small SACCOs which were carrying out the deposit-taking business and which could not sustain themselves, later on those Members lost dearly. Clause 27 (a) and (b) deals with the issue of deposit-taking. The DT SACCOs classify themselves separately so that they can be known and they are distinct from the other SACCOs. I also enjoy the benefit of having been a teacher of History and Government and so I know the history of SACCOs. The cooperative movement begun around 1908. Hon. Chris has just talked about the agriculture sector, the first one being the Kenya Dairy Cooperative. Later on we moved on to develop the DT SACCOs. Now they have wider scope than the agricultural and consumer SACCOs that came first. They need to be protected. Therefore, Clause 27(a) and (b), is very good because now depositors can know where to deposit their money. I wish the Chair of the Committee would not go out because this is where he has to listen to me and get the facts. I hope we shall not confine the registration of these SACCOs and limit them to just the institutions that are there because the SACCO movement has revolutionised itself from 1908 when we had the first one coming up. Currently, we are dealing with DT SACCOs. In the present Kenya where there are other new forms of SACCOs like the bodaboda, they are soon going to become big. They may be allowed to also move forward to start carrying out DT services because they are managing a lot of money. I hope this Bill will not The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}