Hustler Fund will be ready by December - President Ruto

President William Ruto has reassured the public that the Hustler Fund promised during the campaign period will be released before December this year for all Kenyans.

Speaking in Kirinyaga County on Saturday during the commissioning of the Thiba Dam, the President said the funds which are primarily meant to aid Kenyans in doing business will be distributed through cooperatives, Saccos and any other development groups at low interest rates.

“Mimi nataka kuwahakikishia ule mpango wa kuweka Hustler Fund utakuwa tayari kabla ya December mwaka huu. Tayari tunafanyia ukarabati, testing…Wakati mimi napanga, na nyinyi pia mjipange,” Ruto said.

“Njia ya kujipanga ni kujipanga kwa Sacco, Chama, Cooperatives ndio tuweze kuwapata mahali ambapo hakuna mtu atakuuliza mambo ya security, security iwe ni kundi yako.”

The Head of State explained that people who will be seeking to benefit through the Ksh.50 billion annual kitty ought to have joined cooperative groups, which will act as their guarantors.

These, he said, will distribute the funds at interest rates below 10 per cent and will also be necessary to monitor spending and curb misappropriation of the funds.

“Hakuna pesa ya bure, kwani kuna mtu anataka pesa ya bure hapa? Si kila mtu anataka pesa ya kufanyia biashara na kurudisha? Bora interest iwe ya chini...of a single digit,” he said.

"Nyinyi mjipange vile mtapokea hiyo pesa...mnafikiri mimi ntaleta pesa ya serikali nipeane kiholela alafu ipotee? Si lazima kuwe na mpango ambayo pesa haiwezi kupotea?”

Likewise, the Commander-in-Chief noted that the government had put up a ministry in charge of the funds to ensure accountability and that the funds reach everybody that they’re meant to reach.

“Nimeweka wizara maalum ambayo itasimamia copperatives, SMEs, Chama, Sacco...kwa sababu that is the only way...nobody will ask about the security of the funds and you will the funds at low interests,” the President stated.