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MP Slams Kenyans Over Hustler Fund's Ksh500 Minimum Loan

James Gakuya, Embakasi North Parliament Member, slammed Kenyans who mocked the Ksh500 minimum Hustler Fund loan.

Gakuya asked the critics to use the money to launch income-generating ventures on TV 47 on Wednesday morning, November 30.

"First and foremost, the Hustler Fund is voluntary, so no one is forcing you to apply for the Ksh500," Gakuya explained.

"The fund is aimed at assisting people who are having difficulty obtaining funding for micro businesses," he added, while endorsing the loan, which will be distributed on Wednesday, November 30.

Gakuya attributed the credit program's inception to Ruto, claiming that the banking sector oppressed Small and Medium Enterprises (SME's).

He went on to say that many Kenyans could live on the bare minimum of principal.

"Ksh500 is a lot of money, and I can tell you that many people in my constituency live off of it."

"Kenyans can apply for that money and begin income-generating activities such as roasting maize, selling sweets, and other low-cost hawking businesses," the MP suggested.

On November 16, Ruto announced that groups seeking to expand their businesses can apply for grants ranging from Ksh50,000 to Ksh250,000.

"The next product for chamas will range from Ksh50,000 to Ksh250,000, and the next one will follow suit as we continue to roll out the fund," Ruto explained.

Individual limits ranged from Ksh500 to Ksh50,000.

Two days earlier, Nyamira Senator Okong'o Omogeni called the hustler fund unappealing to Kenyans.

"People are afraid of loans because of high interest rates, and the government is providing the same model," Omogeni explained.

Content created and supplied by: JobW (via Opera News )

Embakasi North Hustler Fund James Gakuya Kenyans Ksh500


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