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{
    "id": 851266,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/851266/?format=api",
    "text_counter": 185,
    "type": "speech",
    "speaker_name": "Garissa Township, JP",
    "speaker_title": "Hon. Aden Duale",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Of course, there is the famous SACCO Societies Act No.14 of 2008 which Hon. Maanzo was talking about. Hon. Maanzo is a good friend of mine but he needs to declare interest in this matter. This Bill proposes to amend the SACCO Societies Act in order to create exceptions to the restricted investment that a SACCO society is permitted to make. The Bill seeks to provide for the establishment of what we call a special fund by SACCO societies. There is establishment of an investment committee to monitor and supervise a special fund and appointment of a special fund trustee who shall be responsible for receiving and investing in this special fund. It is protecting members’ contribution. So, this amendment puts it in law how to streamline and protect Kenyans who invest their monies and their resources through SACCOs."
}