Narok Senator Olekina Ledama has said the recently launched Sh50 billion Hustler fund is illegal.
Senator Ledama while speaking on Sunday, December 4 stated that Kenya Kwanza did not have free money to give Kenyans.
“The hustler fund is illegal. William Ruto doesn’t have any money to give Kenyans for free,” Ledama said.
Nonetheless, a total of Sh1,381,747,777 of the Hustler Fund had been disbursed to Kenyans as of Friday December 2 midnight.
The huge disbursement was just 72 hours after the launch, which took place on December 1, 2022 at the Green Park Terminus.
Moreover, reports revealed that 5,191,542 customers have opted in for the Hustler Fund.
Likewise, senator Ledama said that the National Assembly has not passed any budget with billions of shillings to give Kenyans for free.
“Stop lying to Kenyans! We must stop this illegality!” Ledama said.
Similarly, a section of Azimio legislators poked holes into the funds, saying it is not what President Ruto promised Kenyans during campaigns.
Also Read: Senator Sifuna Accuses Ruto of Duping Kenyans on the Hustler Fund
Nairobi MPs Antony Oluoch (Mathare), Mark Mwenje (Embakasi West) and Babu Owino (Embakasi East) said what was launched did not mirror what the Kenya Kwanza administration promised to voters.
According to the Azimio lawmakers, the multi-billion kitty unlike other state funds ought to have been anchored in law through an Act of Parliament and not just mere regulations as is the current situation.
Nonetheless, President Ruto while launching the hustler fund said the fund is specifically designed to support small-scale traders in the country.
“Through the launching this fund, we are supporting underserved Kenyans with services and products that are responsive to their enterprises. Also, liberating them from shylocks and establishing a culture of saving, investment, and social security,” he said.
The Hustler Fund encompasses four products: personal, micro business, SME and start-up loans.
Kenyans can dial *254# to access the funds on their mobile phones.