Azimio, stop inciting Kenyans, Hustler Fund is transforming their lives

By: Joseph Mutua Ndonga

Worth Noting:

• There has been a lot of propaganda and misinformation being spread by our opponents against this noble initiative. They are doing this because of being envious. They never thought we will keep this promise. As our ambassadors, tell Kenyans the truth.
• Notably, the launch of ‘Hustler Fund’ was a key milestone towards the fulfillment of President William Ruto’s pre-election pledges.
• I watched this colorful event and I was indeed upbeat to see Dr Ruto, his Deputy humbling themselves by taking the back-row seats. This day was for the hustlers, who had taken full charge, and they were following their instructions. The leaders only left their seats when they were invited to the podium.

President William Ruto and his Deputy Rigathi Gachagua have been updating the country about the impact of ‘Hustler Fund’ in transforming the lives of the millions of Kenyans.

In his Jumhuri Day speech, the President observed that Sh7.5 billion had been disbursed, Sh1.1billion repaid and 15.2 million Kenyans had registered on this digital platform. He was also upbeat that about Sh400 million has gone into savings. This happened in record 12 days since the launch of this fund.

Turning to his opponents in Azimio La Umoja One Kenya Coalition, he observed. They are inciting you not to repay the loan. Just ignore them. Remember these are the people who initiated and have been running other exploitive and predatory mobile loan lending firms which had been charging high interest rates.

For us, we are offering a loan whose interest rate is very low at the single digit of eight per cent.

A few days earlier, Gachagua rallied the MPs of ruling Kenya Kwanza coalition party to spend much of their time during the December recess in popularizing the ‘Hustler Fund’.

There has been a lot of propaganda and misinformation being spread by our opponents against this noble initiative. They are doing this because of being envious. They never thought we will keep this promise. As our ambassadors, tell Kenyans the truth.

Notably, the launch of ‘Hustler Fund’ was a key milestone towards the fulfillment of President William Ruto’s pre-election pledges.

I watched this colorful event and I was indeed upbeat to see Dr Ruto, his Deputy humbling themselves by taking the back-row seats. This day was for the hustlers, who had taken full charge, and they were following their instructions. The leaders only left their seats when they were invited to the podium.

This clearly demonstrated that Dr Ruto was committed to change and demystify the narrative that the holder of the office of presidency was aloof and unreachable. Some of those serving copied and emulated him. So, they would treat the ordinary people as their subjects and in utter disrespect.

For Ruto, his victory was the work of God and all of us are equal in the eyes of God.

During the reigns of his predecessors, we had funds designed to serve similar purposes, with Uwezo and Youth Enterprise funds being notable.

These funds, however, would not reach the real beneficiaries. Many believe this was because the launches were being organized and presided over by the ruling elite. The hustlers would not play any role.

The process of disbursements at the time was always marred by corruption and impunity. The State officials entrusted to manage these funds were never held responsible and called to account for the missing funds.

One of the reports compiled by Auditor General indicated a whopping Ksh4.6 billion could not be accounted for.

Listening to President Ruto, this will now become a thing of past. Hustler fund is government money and therefore I will not allow anyone to steal the funds. Those who will try will be in for a rude shock.

As a show of his commitment, Dr Ruto has already ensured that the ‘Hustler Fund’ is being disbursed electronically and the same template is used by the borrowers. You only need your mobile phone whose sim card is legally registered in your name to access the fund.  It is therefore hard to steal money wired through a revolutionary technology.

It is important to note that the hustler loan interest rate is 500 times lower than what other mobile money lenders charge.

Azmio brigade has been peddling a white lie that a person is only entitled to borrow Sh500. So, they would pose.  What can you do with Sh500?  Sh500 is the minimum amount and the maximum is Sh50, 000.

A number of residents in Githurai [44] ward, where I resides, have applied for the Hustler Fund. The credit score of some them was good and are entitled to Sh20, 000 and above. This money is enough to start a business.

In my considered view even those qualified to receive less than Sh1, 000 can still do something to better their lives.

When Dr Ruto came up with idea of the hustler fund, he was targeting those at the bottom of the economic pyramid. These were mama mbogas, sugarcane sellers and maize roasters. Most of them usually spent between Sh500 to Sh3.000 to buy their stocks at the local markets.

Joseph Mutua Ndonga is a writer and political commentator based in Nairobi