Africa-Press – Kenya. Deputy President Rigathi Gachagua has urged youths to ignore opposition politicians telling them to default on the Hustler Fund. Gachagua termed the calls by the opposition retrogressive.
He said the amounts being given by the Fund could be little but will go a long way in making a difference. “Ignore the retrogressive calls by the opposition politicians asking you not to repay the loans. The amount being advanced could be small but it will change lives,” he said.
“It is a creative intervention for our businesses and entrepreneurs who had no collateral to secure loans.”
He urged Kenyans to use the Hustler Fund loans to build and expand their businesses. “Make full use of Hustler Fund and keep on building and repay. Keep on expanding your businesses.”
Gachagua spoke on Monday during the launch of the ‘Ol Borana’ semiconductor manufacturing system at the Dedan Kimathi University of Technology in Nyeri.
He encouraged small-scale and medium entrepreneurs and the youth to use the fund to secure their futures. A report by Cooperatives and MSMEs Development CS Simon Chelugui on Monday said that so far a total of Sh9.5 billion had been disbursed by 9 am today.
Chelugui stated that borrowers have saved Sh480 million from some 17 million transactions recorded so far. “By 9 am today, Sh9.6 billion had been disbursed to hustlers… more than 16.5 million Kenyans have been registered and are accessing the fund,” he said. Chelugui also disclosed that the highest amount lent so far was Sh5,000 with the minimum being Sh500.
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