Here is the information on the ground and it seems the Kenyan taxpayers are spending a fortune on this Hustler Fund Project.
Over 800,000 borrowers of the hustler fund have defaulted on paying back their loans within the stipulated time leading to the freezing of their accounts.
Details from the Ministry of Cooperatives show a repayment rate of just over 61 percent, with borrowers in some counties in the arid and semi-arid areas defaulting at more than 70 percent.
As the hustler fund on Thursday marked 100 days since it was unveiled, over 15.7 million borrowers had successfully applied for and been awarded loans, most of them between Ksh.500 and Ksh.3,000, every time they borrowed.
So who really runs this Ruto project? This thing could end up as a complete economic disaster for the country and the people who claim to run it say they don’t know who runs it. Is this really how any government can treat Kenyan taxpayers who pay for all this in tens of billions?
And these are the most important issues for the Ruto regime right now.
Prime Cabinet Secretary (PS) Musalia Mudavadi has allayed concerns that the office of his spouse, Tessie Shangatti Mudavadi which was unveiled last week, will be funded from public accounts.
Speaking in Nairobi on Thursday, Mudavadi noted that the Office of the Spouse to the Prime Cabinet Secretary’s main mandate will be to support philanthropic efforts around the country as such it does not require any funding from the national exchequer.
“I want to make it clear that there is no public expenditure that has occurred in the conversation around Tessie Mudavadi and I don’t see any public expenditure occurring because I truly appreciate that activities of this nature are not government activities,” said Mudavadi.
He added that even before he assumed the position of Prime CS, his spouse had been carrying out charitable acts in an effort to better society and that would go on even without funding from the State.
“Mrs. Musalia Mudavadi has been at this process whether in or out of government and we shall not stop supporting people in any part of the country through any charitable efforts but I am clear that it shall not be at the expense of the exchequer,” he said.
According to a statement by Mudavadi’s communications team, Tessie’s office will complement the work done by First Lady Rachel Ruto and Second Lady Dorcas Gachagua.
Adongo Ogony is a Kenyan Human Rights Activist and a Writer who lives in Toronto, Canada