President William Ruto has made it clear to Kenyans that the hustler fund which was an important aspect of the Kenya Kwanza manifesto during their electoral campaigns shall not be free but rather borrowers will have to repay the government.
Speaking during an interdenominational thanksgiving church service in Kericho county on Sunday 16/10/2022, the Head of State reaffirmed that the fund, which is scheduled to be launched on December 1st to support Kenya’s economic environment, will be handed to interested parties as loans. Any persons interested in the hustler fund will have to organise themselves into SACCOs or cooperatives which will then act as guarantors.
“On December 1st we will launch the hustler fund and so it is up to you now to organise yourselves into Chamas, SACCOs, cooperatives or individually. It is not free money; it is business money that you will have to repay. We will eliminate shylocks and repayment will be at less than a 10% interest,” President Ruto said.
To ensure accountability in the disbursements of funds, Ruto’s administration has established a ministry that will oversee the Ksh. 50 billion that will go into the kitty annually. Additionally, President Ruto during the service noted that Kenyans who had wrongly been listed by Credit Reference Bureaus will be removed from the lists in two weeks all aimed at improving the economy.
“Give me two weeks, those blacklisted because of debts will be free. But you must work hard there is nothing for free. And if you try to steal government money we will see,” the head of state said.