Hon Anthony Kimani Ichung'Wah

All parliamentary appearances

Entries 2581 to 2590 of 3227.

• 21 Feb 2017 in National Assembly: Thank you, Hon. Speaker. I seek your indulgence to speak on behalf of the Chairman of the Committee. I would like to put a few issues straight because we had a very productive retreat sometime last year. The retreat was for members of the Committee and all major stakeholders within the SACCO movement in this country and it was held as a run-up to the enactment of this Bill. view
• 21 Feb 2017 in National Assembly: There are a few issues that have been spoken by Members who have contributed before me. A matter that has been of concern to Members, and which I would beg to begin with, is the question of qualifications as stipulated in the New Clause 48A(2)(b). It is important for Members to note something because I eavesdropped on Hon. Gikaria and Hon. Sunjeev Birdi who were asking why we are allowing academic qualifications. I want you to read the wording in the Bill carefully. It talks of academic or other qualifications, or experience of the person, having regard to the nature ... view
• 21 Feb 2017 in National Assembly: This Bill recognises that, indeed, we may not have people in our villages with all the academic qualifications, but they may have other qualifications; be it in management, corporate skills of bringing people together or even personal experience. Therefore, it does not, in any way, stop anyone on the basis of academic qualifications. I thought it was important to say that because I have heard concerns raised by a number of Members. As a Member of the Committee and someone who participated in the pre-publication process of this Bill, it is important to point that out to the Members. view
• 21 Feb 2017 in National Assembly: I also wish to clarify an issue that Hon. Maanzo has brought up. It is the question of what a deposit-taking SACCO is. He says that any SACCO is a SACCO. That is true. All SACCOs are SACCOs, but what this Bill seeks to do, unlike what Hon. Maanzo would want Kenyans in this House to believe, is to bring out that unique distinction of those who take deposits for the purpose of taking them to the bank. That is what deposit-taking is. That is very different from holding shares within a SACCO. It is very different from you having ... view
• 21 Feb 2017 in National Assembly: which you will borrow against. Deposit-taking, in the real meaning in the banking sector, is where you go and deposit your money that is withdrawable. People in the matatu business and those in the retail markets are forming SACCOs. Every other Tom, Dick and Harry in this country will form a SACCO and collect deposits that are not regulated from Kenyans. There is every reason why Central Bank of Kenya (CBK) regulates banks. It is because banks are taking deposits from members of the public. view
• 21 Feb 2017 in National Assembly: Therefore, if you do not create that unique distinction between a deposit-taking SACCO and any other SACCO--- You know a savings and credit co-operative is any group of people coming together to save and advance credit to their members. When you distinguish what a deposit-taking SACCO is, you are allowing that SACCO to be under a regulator. Therefore, that SACCO can actually take deposits from people who are not even members of that particular SACCO. There are clear examples of this - the Unaitas of this world, Harambee SACCO and many others, including my own SACCO. view
• 21 Feb 2017 in National Assembly: I have to say I have a very keen interest in the co-operative movement because I am who I am today in terms of my financial muscle or lack of it because of the SACCO movement in this country and the support that I have got from the SACCO industry. Therefore, it is important that I protect those other gullible young Kenyans who may not have the knowledge that I do. If you allow every other Tom, Dick and Harry to collect deposits from Kenyans assuming that this is somebody who is regulated and who is collecting deposits from Kenyans, ... view
• 21 Feb 2017 in National Assembly: I want to challenge Hon. Maanzo to bring his amendment. I will be there to protect what we have provided in this Bill. This is something that we did together and deliberated on in the Committee with all the stakeholders in the SACCO movement. view
• 21 Feb 2017 in National Assembly: It is also important to appreciate the role that the SACCO movement plays in this country. One of the most successful banks, the Co-operative Bank of Kenya, is owned, 65 per cent, by the SACCO movement. The holding company of Co-operative Bank, Co-op Holdings Co-operative Society Limited, owns 65 per cent of that bank. That company is fully owned by the co-operative movements in this country. Therefore, we cannot say that we will allow everybody to use the name “Deposit-Taking SACCO.” The whole rationale of using that DTS or D-T SACCO is to create that distinction so that when somebody ... view
• 21 Feb 2017 in National Assembly: Last year but one, I interacted with, at least, a minimum of 50 to 60 members of the public in my constituency and a number of other Kenyans in Nairobi County who had fallen to the gimmicks of some Mukurino who was operating from somewhere around Meridian Hotel. He was running what was perceived to be a SACCO. He, indeed, collected many deposits from Kenyans making them believe that it was a SACCO that could take deposits and could even lend nine times what one had deposited in that ‘SACCO’. It did not operate for more than two years because ... view