Narok senator Ledama says Hustler Fund will create poor Kenyans
By Winnie OnyandoNarok senator Ledama Ole Kina has said that the Hustler Fund will create more poor people in Kenya than Shylock loans.
Taking to his Twitter account, the vocal senator failed to explain why he feels the Hustler Fund will create more poor people in the country.
Also read: What happens if you don’t repay the Hustler’s fund?
“Hustler Fund will create more poor people in Kenya than the Shylocks,” commented Ledama.
While launching the Hustler Fund yesterday, November 30, President William Ruto said that the fund would greatly help the hustler nation rise economically.
The sentiment of the vocal senator comes just a few weeks after he proposed that the president should change the fund’s structure to have it managed by governors.
Also read: How to determine your own Hustler Fund loan amount
He proposed that the president distribute Sh47 billion as part of the Hustler Fund through governors as a conditional grant.
“County Governments should administer Ruto’s Hustler Fund as a special conditional grant. Senate should oversight the fund, to make sure Wanjiku will benefit otherwise another NYS saga loading,” Ledama commented further.
However, the president and his Deputy Rigathi Gachagua praised the fund, saying it will help build a nation of entrepreneurs.
The president, however, warned Kenyans to use the fund well.
On the other hand, the second in command Gachagua warned hustler fund critics to give them a break.
Without explaining why he thinks so, Ledama said.
Also read: Why some Kenyans are not excited about Sh50 billion Hustler Fund
The Sh50 billion Hustlers Fund kitty is meant to finance Kenyans at the lowest level of the economic pyramid with capital to start businesses that will earn them a livelihood.
The loan amount that can be advanced is between Sh500 and Sh50,000.
Further, getting the amount depends on the borrower’s credit score, so individuals with poor credit scores will be charged higher interest, plus possible penalties.
Also, read our top stories today:
I was paid well, ‘Lelo ni Lelo’ hit maker says
Uhuru wa mashati is back! Ex-president maintains trademark look
Director Rashid reacts to breakup news revealed by ex-wife Nasra Yusuf
Exclusive: Eric Omondi on why he has been labeled a clout-chaser