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{
    "id": 981995,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/981995/?format=api",
    "text_counter": 396,
    "type": "speech",
    "speaker_name": "Sen. Cherargei",
    "speaker_title": "",
    "speaker": {
        "id": 13217,
        "legal_name": "Cherarkey K Samson",
        "slug": "cherarkey-k-samson"
    },
    "content": "This amendment is one way of ensuring that it is like the banking institutions, where one uses deposit and withdrawal services. If this amendment goes through, we expect the SACCO Societies Regulatory Authority (SASRA) to ensure that they properly regulate this SACCO business. I think Karl Marx, if I am not wrong, said, “Religion is the opium of the poor.” I saw a ‘man of God’ starting a SACCO; taking that Kshs5,000 or 10,000 from members; and the other day, we were told that he ran away with everything. We also have a classical case where the Director of Criminal Investigations (DCI) is investigating Mr. Gakuyo of Ekeza SACCO Society, where Kenyans who were allegedly conned lined up along Kiambu Road to write statements in the famous Karura Forest. The weak regulatory regime and the manner in which some of these SACCOs are run has exposed Kenyans to be vulnerable to some of these antics of street-smart conmen. They are now even using the pulpit to con people. A good example is the preacher Gakuyo, who is a ‘man of God.’ I have seen him preaching, yet he used the pulpit to con ordinary Kenyans by promising them property and land. There was hue and cry after that, and I hope that the DCI will investigate it and ensure that there is prosecution with regard to the Gakuyo fiasco. He must do so to ensure that Kenyans get justice and stop anybody who would want to take advantage of innocent Kenyans. Madam Temporary Speaker, Gakuyo comes from Kiambu County, just like my brother, Sen. Mwaura. When I see him commenting on national issues, I always wonder. It is interesting because the same person who can con people through the pulpit is purporting to lecture the people on the same. I hope that the DCI and the Office of the Director of Public Prosecutions (ODPP) will ensure they use the Gakuyo case and other cases of pyramid schemes to stop Kenyans from being taken advantage of. Madam Temporary Speaker, I know people want to get rich quickly and that they do not want to be patient. They want to invest their money and get quick returns. But we should prepare a legal regime in running of our SACCOs. This amendment will, in one way or another, ensure that anybody who invests and who gets services from the SACCO is protected. Therefore, these people who have been masquerading in the country, taking advantage of Kenyans and purporting to run SACCOs; the DCI and DPP must ensure that they are prosecuted. We want to agree largely with most of the proposals that have been made in this amendment in ensuring that we amend this SACCO Societies Act. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}