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{
    "id": 863447,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/863447/?format=api",
    "text_counter": 325,
    "type": "speech",
    "speaker_name": "Roysambu, JP",
    "speaker_title": "Hon. Isaac Ndirangu",
    "speaker": {
        "id": 2701,
        "legal_name": "Isaac Waihenya Ndirangu",
        "slug": "isaac-waihenya-ndirangu"
    },
    "content": " Hon. Temporary Deputy Speaker, in replying, I wish to thank both the Departmental Committee on Trade, Industry and Co-operatives and my own Departmental Committee on Finance and National Planning for working collectively to ensure that this Bill comes to light. I also thank all Members who have participated in giving their expert views on this Bill. It is important to note that quite a number of Members here, like the Member for Molo and other Members who are experts in SACCO development have given very important contributions. Right here in Parliament, most of us are members of the Parliamentary Savings and Credit Co-operative Society (PACOSO) and the Bunge Savings and Credit Co-operative Society (BUCOSO) and we know the critical part they play in availing finance to Members to develop themselves and to undertake their personal projects. There is a clear correlation between democratic governance and the operation of co- operatives. Looking around, you will see that since the new Constitution took root, the Government has been trying to create laws and to develop values along the propagation of SACCO societies as opposed to the earlier rule of 1980 and the early 1990s, when important co- operatives in this country, particularly in Central Kenya, were politically undermined and influenced through the Office of the Commissioner of Co-operatives then. I have in mind land buying co-operatives like Nyakinywa, Kihiu Mwiri, Mbo-I-Kamiti and even very strong banks that were based on co-operative development like the former Rural Urban which was headed by Andrew Ngumba; the former Continental Bank headed by, among other directors, Hon. Kibaki; Akiba Bank and Consolidated Bank. Because of bad governance, dictatorship and political manipulation in the management of these companies and co-operatives, they all went under leading to a lot of desperation among farmers and ordinary Kenyans, particularly in Nairobi, Eastern and Central Kenya. Therefore, we thank the parent Ministry of Trade and Industry for also coming up with a policy to firm up values around the management of SACCOs so that they can serve Kenyans prudently by deploying ICT to manage their reporting, monitoring, record keeping et cetera . The archaic system of managing co-operatives is cumbersome and leads to a lot of wastage. So, we look forward to the implementation of this Bill so that deployment of ICT can improve the management of SACCOs to bring transparency and accountability. It is also true that even in this time of ICT, there are many co-operatives out there which are luring members of the Diaspora to invest particularly in land buying companies, but when you look critically at them, you find that they have invested nothing in ICT. It is important for prospective investors, particularly local and from the Diaspora, who want to invest in land buying companies, to take time to peruse their books to seek information about the management of these SACCOs. 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."
}