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KOT school Didmus Barasa after claiming bodaboda guys earn 700 a day

Kilimili MP Didmus Barasa has been on the receiving end of Kenyans on Twitter (KOT) after illustrating how hustlers could benefit from President Ruto’s Hustler Fund.

In his tweets, the controversial lawmaker shared, “Say you are given Sh 50,000 by Hustler Fund. You can put down Sh 30,000 as a deposit for your bodaboda. You can use the Sh 20, 000 as capital for wife’s mboga business. This is how you will move from lottery (Kubahatisha) economy.”

He continued, “Let’s say you make Sh 700 per Day (21,000 per month) and wife makes Sh. 9,000. You pay Sh 2,500 (to repay Hustler Fund in 24 Months), Sh 5000 for the bike (to repay in 20 Months), Sh 4,500 for mortgage (Rent to own 1 bedroom house), Sh 500 for NHIF and Sh. 500 for NSSF (total Sh 6,000 per year, topped up by Sh. 3000 by Government for your retire).

Let’s say Sh 10,000 goes to basic needs, you will still be left with Sh 7,000 to save & spare! At the end of the day, Sh 50,000.”

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However, Kenyans on Twitter (KOT) shed light on his bodaboda ‘changing lives’ demonstration telling him it was not possible to reap ‘benefits’ from such ’empowerment.’

Here are some of the comments;

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Among his campaign promises, President William Ruto shared that his government shall have Hustler Fund, which is aimed at spurring reforms in financial lending, particularly to low- and middle-income Kenyans. The Sh50 billion annual fund would support micro, small, and medium enterprises (MSMEs).

This was made possible by providing loans to small firms such as motorcycle transport operators and women-owned ventures at single-digit interest rates without collateral.

“On December 1 we will launch the Hustler Fund and so it is up to you now to organise yourselves into Chamas, SACCOs, cooperatives or individually. It is not free money, it is business money that you will repay. We will eliminate shylocks and repayment will be at less than a 10% interest,” he said.

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