President William Ruto has asked Azimio leaders to stop  misleading Kenyans on the Hustlers Fund.

Speaking during Kenya’s 59th Jamhuri day celebrations, Ruto accused the opposition of antagonizing government’s efforts to help the poor

The President said that Kenyans have so far borrowed over 7.5 billion Shillings from the Hustler Fund in the 12 days that it has been in operation.

He noted that the platform has registered 15.4 million new subscribers.

At the same time, the Head of State also disclosed that over 400 million Shillings has been saved by Kenyans from the Fund.

Fund performing well

Additionally, Ruto revealed that  Sh1.2 billion of the Hustlers Fund has been repaid by borrowers.

“As of this morning – the 13th day since the launch – the Fund had disbursed Ksh 7.5 billion.

“At the same time, 15.4 million Kenyans had registered for the fund,” said Ruto.

Also Read: How Hustler Fund Could Endear Ruto to the People

Further he stated that Sh1.1 billion has been repaid before the 14-day repayment period and Sh400 million has been put into the savings section of the Hustlers Fund by the borrowers.

“It is clear under this programme that Kenyans have found a platform to save.

“Clearly, Kenyans know the value of borrowing and paying contrary to the rhetoric of sceptics. By all accounts, this is revolutionary,” he added.

President Ruto has also consulted lenders on the need to free the 4 million Kenyans who had been blacklisted under the Credit Reference Bureau which has led to their businesses being paralysed.

“We have secured an agreement with the lenders to abandon this punitive approach, and to shift to a credit scoring system which incorporates incentives for both lender and borrower.” said Ruto.

A section of Azimio La Umoja allied leaders have been calling on Kenyans who have taken the hustler loan not to repay.

The leaders have been arguing that the fund should be a grant and not a loan.