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{
    "id": 850196,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/850196/?format=api",
    "text_counter": 501,
    "type": "speech",
    "speaker_name": "Emuhaya, ANC",
    "speaker_title": "Hon. Milemba Omboko",
    "speaker": {
        "id": 13328,
        "legal_name": "Jeremiah Omboko Milemba",
        "slug": "jeremiah-omboko-milemba"
    },
    "content": "completely block out the venturing out of the new prototype of SACCOs that are coming up like the boda boda and other small-scale businesses which can have more money than the old ones. So that would be very important. Clause 48 is giving powers to the Authority to determine the suitable people to manage the SACCOs. I support this one fully because for the monies of the workers, investors and the people who are dealing with these SACCOs to be protected well, we need to have a regulation that determines the level of education the leaders are going to have. I support that bit. The proposed Bill in Clause 50 gives powers to the Authority to impose a certain minimum standard on significant members. I also totally support this and ask Members to support it fully because it is good for this sector. Section 54 allows the SACCOs to exchange information on both performing and non-performing loans. This is good because it protects the SACCOs and the members because some members tend to have a high appetite for borrowing and if they are not checked they can borrow too much and end up being auctioned. Coming from the sector of trade unions and having dealt with workers, this is also dangerous. So, it is not very good when a member over borrows and ends up being auctioned. So sharing of information is very good for the members and the SACCOs."
}