{"id":76476,"date":"2022-12-05T15:51:54","date_gmt":"2022-12-05T15:51:54","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/we-must-stop-illegal-hustler-fund-ledama"},"modified":"2022-12-05T15:51:54","modified_gmt":"2022-12-05T15:51:54","slug":"we-must-stop-illegal-hustler-fund-ledama","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/we-must-stop-illegal-hustler-fund-ledama","title":{"rendered":"We must stop illegal Hustler fund \u2014 Ledama"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Narok Senator Olekina Ledama has termed the recently launched Sh50 billion Hustler fund as an illegality. Speaking on Sunday, the senator said Kenya Kwanza didn’t have free money to give Kenyans.<\/p>\n

\u201cThe hustler fund is illegal. William Ruto doesn\u2019t have any money to give Kenyans for free,\u201d Ledama said.<\/p>\n

As of Friday midnight, a total of Sh1,381,747,777 of the Hustler Fund had been disbursed to Kenyans. This was after 72 hours of the launch, which took place on December 1, 2022 at the Green Park Terminus.<\/p>\n

It was revealed that 5,191,542 customers have opted in for the Hustler Fund. The total transactions as of that day stood at Sh2,346,675 and total repayment of Sh48,526,204.<\/p>\n

The second term legislator further said the National Assembly has not passed any budget with billions of shillings to give Kenyans for free. \u201cStop lying to Kenyans! We must stop this illegality!\u201d Ledama said.<\/p>\n

A section of Azimio lawmakers already poked holes into the funds, saying it is not what President Ruto promised Kenyans during campaigns. 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.<\/p>\n

They argued that 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. Ruto said the fund is specifically designed to support small-scale traders in the country.<\/p>\n

\u201cThrough 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.<\/p>\n

The Hustler Fund comprises of four products: personal, micro business, SME and start-up loans. To access the fund, Kenyans can dial *254# on their mobile phones. During the launch, borrowers were warned against defaulting, with the state issuing strict measures to curb the same.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Narok Senator Olekina Ledama has termed the recently launched Sh50 billion Hustler fund as an illegality. Speaking on Sunday, the senator said Kenya Kwanza didn’t have free money to give Kenyans. \u201cThe hustler fund is illegal. William Ruto doesn\u2019t have any money to give Kenyans for free,\u201d Ledama said. As of Friday […]<\/p>\n","protected":false},"author":84,"featured_media":76473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[6857,7003,544],"class_list":["post-76476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nWe must stop illegal Hustler fund \u2014 Ledama - kenya<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/we-must-stop-illegal-hustler-fund-ledama\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We must stop illegal Hustler fund \u2014 Ledama\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Kenya. Narok Senator Olekina Ledama has termed the recently launched Sh50 billion Hustler fund as an illegality. Speaking on Sunday, the senator said Kenya Kwanza didn’t have free money to give Kenyans. \u201cThe hustler fund is illegal. William Ruto doesn\u2019t have any money to give Kenyans for free,\u201d Ledama said. 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