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{
    "id": 863389,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/863389/?format=api",
    "text_counter": 267,
    "type": "speech",
    "speaker_name": "Nambale, ANC",
    "speaker_title": "Hon. Sakwa Bunyasi",
    "speaker": {
        "id": 2511,
        "legal_name": "John Sakwa Bunyasi",
        "slug": "john-sakwa-bunyasi"
    },
    "content": "They can then now invest in safer instruments and safer institutions. So, they do their aggregation function. They are extremely important. It is just like in commodity marketing. The aggregators are extremely important in getting viable commodity market, commodity exchange or even the kinds of things that we did last week in the Warehouse and Receipt Systems Bill. Aggregators are going to be extremely important. Similarly, in financial terms, these SACCOs are going to be aggregators. There are people who are going to be saving no more than Kshs50 a month. But the millions of those savings can enter the system as we go up. As we try and modernise the reporting system, I see an opportunity. Reporting is extremely important in financial institutions. It is extremely important for things like the capital market. Even in these institutions, hopefully SASRA is going to be really on top of this. This reporting is going to be the key to creating confidence in these institutions. There will come a time when these institutions because of the surplus capital they have got, will even issue their own paper, their own bonds and people will be able to invest in them."
}