Azimio spokesperson Makau Mutua has stated that Hustler Fund will collapse because the government has no capacity to go after defaulters.
Through a statement released on Tuesday, December 6, the Azimio Spokesperson said Kenyans taking loans from the hustler’s fund do not have the ability to repay.
“The government has no capacity, or political resolve, to go after defaulters of the so-called Hustler Fund, nor do most borrowers have the ability to repay. It will collapse in a heap of recriminations,” Makau noted.
Makau Mutua’s remarks came after President William Ruto launched the fund on Wednesday.
The head of state noted that the hustlers fund is meant to support the underserved Kenyans with services and products that are responsive to their enterprises.
He added that it will also liberate them from shylocks and help them establish a culture of saving, investment, and social security.
Also Read: Number of Kenyans Registered for Hustler Fund Hit 12m
Nevertheless, the Hustler Fund comprises four products including personal, micro business, SME and start-up loans.
To access the fund, Kenyans can dial *254# on their mobile phones.
Moreover, borrowers have been warned against defaulting with the State issuing strict measures to curb the same.
Likewise, the president said loan defaulters will not be listed on CRBs, as they will have another chance of borrowing.
Furthermore, Cooperatives and MSMEs Cabinet Secretary Simon Chelugui said the amount disbursed had crossed the Sh4 billion mark earlier in the day and now stands at Sh4.6 billion.
Similarly, the number of Kenyans who have registered with Hustler Fund has increased to 12 million, while total transactions by midnight was at 8 million.
