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 is expected to launch 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.
On Tuesday 29th, an afternoon session at the National Assembly turned dramatic as Azimio and Kenya Kwanza MPs differed on the hustlers fund issue. Junet termed the fund a scam and unrealistic. He stated that the government was just introducing fuliza with a new name.
"The more things change, the more they remain the same. In 2013, the Jubilee government brought Uwezo fund and disbursed 8 billion shillings. I am told that only 300 million has been repaid. If Kenyans have been unable to repay uwezo fund which is interest free, how will they manage to pay a fund which has 8% interest?" Asked the Suna East lawmaker.
"Which business can you start with 50k if one crate of tomatoes for mama mbogas is going for 10K? Which Bodaboda costs 50K? This fund is a fraud. I know Kenya Kwanza MPs have a light skin for criticism but we must ask these questions," alluded Junet.
This statement by the ODM legislator received backlash from UDA MPs many arguing that the fund will play a bigger role in enhancing businesses at the grassroot level.
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