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"Why Only 14 Days For Repayment" UDA MP Explains What 14 Days Repayment Mean in The Hustler Fund

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. The president fulfilled this promise by launching the fund on Wednesday.

One of the issues that most Kenyans have raised concerns about, is the 14 days grace period for repayment. Many Kenyans feel that the period is too short and have questioned why the government decided to put the period that short.

UDA lawmaker has come out to defend the government's decision to put a short repayment period.

Answering to a question during an interview on Wednesday, Kiharu MP Ndindi Nyoro said that this is the first package of the hustler fund which is seeking to address short term borrowers.

Nyoro said that the government will be launching other products of the hustler fund in due cause which will have a longer repayment period. He said that the current product is mainly aiming to benefit business people who borrow small amounts, maybe to add their stock.

"The current hustler fund product has a shorter repayment period because it is seeking to address short term borrowers. Those business persons who borrow one thousand to add stock from shylocks and return 1100 after one day are the main targets of this fund. Hustler Fund is giving them a cheaper alternative and atleast short but enough period to settle the dues. We shall be launching other products with a longer repayment period. This is just the start," alluded Nyoro. (Watch video from 7 min).

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Kenyans Kiharu Ndindi Nyoro UDA William Ruto

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