DP RIGATHI GACHAGUA now begs MPs to plead with Kenyans to repay their Hustler Fund loans after it emerged that only 5% have repaid their loans so far

 

Wednesday, December 7, 2022 – It appears that the Hustler Fund is doing poorly contrary to what President William Ruto and the government expected.

Since its launch on the 30th of November, millions of Kenyans have accessed the fund from as low as Sh500 to a maximum of Sh50,000, but only 5% have repaid the loan, meaning the government is struggling to recover the money Kenyans have so far borrowed as loans.

Besides, not everyone is enthusiastic about the Hustler Fund, considering that the limit for most Kenyans is too small.

It is on this premise that Deputy President Rigathi Gachagua has urged Kenya Kwanza lawmakers to be ambassadors of the Hustler Fund. 

Speaking when he opened the National Assembly Majority Party Parliamentary conference on Legislative Matters at Windsor Golf Club, the DP stated that the government will fully involve Members of Parliament in the rolling out of the Hustlers Fund.

“We are urging you to be ambassadors of the Fund during the recess. We would like to urge you to use the recess to explain to our people about the importance of the fund, its operations and importantly urge them to repay the money they borrow,” the DP said.

They are accessing the money via the USSD Code *254# through any of three mobile phone numbers: Safaricom, Airtel, and Telkom. They are expected to settle the loan within 14 days of acquiring it.

“Kindly explain to the traders and those in the informal sector that this is a good fund and that once they get the money they need to pay. This is the responsibility we wish you to carry during the recess,” Gachagua told the MPs. 

He said it was retrogressive for any leader to tell borrowers to take the loans and fail to pay.

A section of Azimio leaders has termed the hustler fund illegal, saying the Parliament was not involved in the process.