Hon Anthony Kimani Ichung'Wah

All parliamentary appearances

Entries 2591 to 2600 of 3232.

• 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
• 21 Feb 2017 in National Assembly: You are today comfortable to open an account with Equity Bank, Co-operative Bank and all the other banks that fall under the regulation of the Central Bank of Kenya (CBK) because one is confident that there is the Deposits Protection Fund, and the Kenya Depositors Insurance Corporation. We seek to bring that regulation into the SACCO movement to make sure that people can save and deposit their funds within SACCOs under some form of regulation. That should be clear to the Members of this House so that we do not fall into the temptation of moving amendments to Clause 27 ... view
• 21 Feb 2017 in National Assembly: It is also worth noting that the movers and shakers in the housing and real estate sectors are in the SACCO movement. They have even formed housing companies. Mhasibu, the Police and Safaricom SACCOs have housing companies. The Safaricom SACCO has an investment arm. We cannot allow this industry to operate without regulations. Matatu drivers and touts are now forming their own SACCOs. We must have distinguished between SACCOS where co- operators come together to save money and advance credit to each other, and those which utilises people’s deposits. Hon. Speaker, the Member for Juja is interrupting me with notes ... view
• 16 Feb 2017 in National Assembly: Thank you, Hon. Speaker. I draw reference to something you said yesterday regarding Members’ participation during the Second Reading. Consequently, when we come to the Third Reading, all the things that we put forward during the Second Reading are not put into action in terms of amendments. I heard what was said by the Chairman of the Committee and Hon. Wamunyinyi, and it is true. I want to support what Hon. Wamunyinyi said that legislation is not a one-day event. It is not that when we start the Second Reading today, this process will come to an end today. There ... view
• 16 Feb 2017 in National Assembly: Hon. Speaker, we should proceed and allow the Committee to listen to other stakeholders. Members can bring their amendments during the Third Reading. Allow us to debate and articulate on issues that affect our people. view
• 16 Feb 2017 in National Assembly: Thank you, Hon. Speaker. You can hear the Hon. Member for Kiharu saying that I always fight with Hon. Midiwo on television. But on matters that touch on the people that I represent, I have no option but to close ranks with Hon. Jakoyo Midiwo and support him. A lot has been said by the Mover of the Bill on many issues that touch on this Bill. I was just sharing with Hon. Katoo and he reminded me of something that the Reverend who was preaching during the funeral of the late Hon. ole Ntimama said. He said that there ... view