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'This is The Amount You Will Pay if You Default 500 Hustler Fund For One Month' Ole Kina Alleges

During his campaigns, president William Ruto made a promise to Kenyans that once elected, he would launch a financial programme to cushion hustlers who engage in small and medium enterprises. Ruto promised hustlers fund that would be accessible to Kenyans at an affordable rate, contrary to other predatory lenders.

To fulfill this promise, the president launched this programme on Wednesday 30th. Kenyans will have to use their phones to access the funds, where individuals will get between Ksh 500 to Ksh 50,000.

Azimio senator, Ledama Ole Kina, has come out to tweet a mathematical calculation alleging the amount Kenyans who have borrowed Ksh 500 will have to pay if they default the loan for one month.

According to his calculation, if you have borrowed Ksh 500, you will be required to pay Ksh 547 on the 15th day. After one month, Ole Kina alleges that if you default Ksh 500, you will be required to pay Ksh 1,925.

"Dear Kenyans if you borrow Ksh 500 from @WilliamsRuto Hustler Fund you will receive the Ksh 500-8%(40)-30=Ksh430 if you fail to pay in 14 days on the 15th day you will owe the hustler Ksh 547.50 if you fail to pay for a month you will owe the hustler Ksh 1,925. Is this worth it?" Tweeted the Narok Senator.

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Azimio Kenyans Ledama Ole Kina Ruto William Ruto

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