Kenya’s President William Ruto on Wednesday, November 30, officially launched the hustler fund.
However, Kenyans who had longed for a favorable credit facility appear not to be so much interested in the loans.
The low uptake of loans is attributed to tough terms and conditions of the kitty, political perspective as well as loan limit.
For instance, Narok Senator Ledama Ole Kina has been warning Kenyans against taking the hustler fund terming it as another ‘Huduma Scam’.
“The hustler fund is a scam. You cannot get rich by borrowing KSh 500. This is another Huduma number scam. Please stay away,” Ledama Ole Kina said in a Tweet.
President William Ruto said as of Wednesday, December 7, only 13 million Kenyans had registered for the loan according to the Head of State.
As such, President William Ruto’s wife Rachael Ruto asked Christians to take the loan and support God’s work.
Addressing the faithful of Redeemed Gospel Church International in Karen, Nairobi, the first lady said urged Christians to utilize the hustler fund.
“I want to encourage us, believers, to make good use of the Hustler Fund. We should not be left out. If we invest using Hustler Fund, we will be able to get enough income hence supporting the work of God,” Rachael Ruto said.
“I urge Kenyans to pay their debts in order to increase their limit,” Ruto said.
Figures released by Cooperatives and MSMEs Cabinet Secretary Simon Chelugui revealed that more than KSh 500 million had been disbursed to Kenyans just 12 hours after its official unveiling.
Ruto said the kitty aims at liberating Kenyans from what he termed as rogue shylocks.
“Through the launching this fund, we are supporting underserved Kenyans with services and products that are responsive to their enterprises as well as liberating them from shylocks and establishing a culture of saving, investment, and social security,” President Ruto said.