Kenya: DP Gachagua Castigates Those Opposed to Hustler Fund

DPSS/Capital FM
President William Ruto.
3 December 2022
Capital FM (Nairobi)
By Irene Mwangi

Nairobi — Deputy President Rigathi Gachagua has castigated those opposed to the Hustler Fund on the claims that it's offering meagre loans to lenders.

Gachagua while directing his attack on Nairobi Senator Edwin Sifuna asserted that the cash disbursed to Kenyans which is as low as Sh2,000 is enough to boost the businesses Micro Small enterprises.

Sifuna is among Azimio leaders who have poked holes into the Sh50 billion Hustler Fund saying it should be turned into a grant as it is not what Ruto promised Kenyans during campaigns.

"Those talking about Hustler Fund on TV should now come to the ground and see that Sh 1000 is enough to grow businesses and change peoples lives,"Gachagua said.

The Deputy President called out Sifuna for inciting Kenyans to take the Hustlers Fund and intentionally default payment.

"I have seen the Nairobi Senator telling people that they should take the Fund and default payment. If Azimio people took up power,Kenya would have sinked,"Gachagua said.

The Nairobi Senator has encouraged Kenyans to take up the Hustler Fund loans since the government will not come after them if they failed to pay the loan.

President William Ruto during the launch on Wednesday said loan defaulters will not be listed on CRBs.

The Head of State stated that they will have another chance of borrowing.

"The defaulter can repay the loan at once or in instalments and begin borrowing again after full repayment," he said.

To be eligible for the fund, one must be a Kenyan citizen aged 18 years and above, with a valid Identification Card and Registered Mobile number with mobile network providers like Safaricom, Airtel, and Telkom.

One will also be required to have a mobile money account that is either Mpesa, Airtel Money, or Tkash, and the sim card must have been in use for more than 90 days.

The Hustlers Fund identifier is the ID number, hence one customer can not use more than one number to borrow.

Additionally, savings are secure even if a mobile device is lost because the Hustler Fund account is PIN-protected. Once the SIM card is replaced, access to the account will be restored.

The fund, launched on Wednesday, will offer four different products: start-up loans, micro-loans, SME loans, and personal loans.

Read the original article on Capital FM.

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