A section of the opposition members of Parliament have termed the just Launched hustler fund a pyramid scheme aimed at edging out banks and other small lenders.
Mathare member of Parliament Anthony Oluoch and his Embakasi east counterpart have among other things questioned the source of the funds and it's legality.
Oluoch on particular took issue with the process used by president William Ruto's Government to create the fund.
He claimed that the government circumvented Parliament in a bid to hit the December 1 launch date.
“A KES 50 billion fund is being set up by government by way of regulation, that is an affront to the role of parliament. This is a charade and not what they promised the people of Kenya,” said Oluoch.
Further, he questioned the source of the funds suggesting that the money may have been drawn from CDF.
On his part, Owino was not convinced about the terms of the loans questioning why kenyans had to pay back any money they borrow given that its drawn from their taxes.
The mps vowed to stop any expenditure that is outside the set legislation calling for the consolidation of the various funds given by government into one.
However, a number of netizens who reacted online expressed their disappointment at the remarks with some Advising the youthful mps not to just oppose anything for the sake of it.
Dan:Sasa Azimio ju lazima wapinge kila kitu wameanza kutetea shylocks na predatory lenders.
Wanajala:What's wrong with that? As long as Kenyans are benefiting to me it's okay 🙏🙏🙏
Wilfred: They said it will not happen.And now that it has happened they begin ...ooh ooh. Hawa watu bwana!!
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