Hustler Fund: This is not what you promised, Azimio MPs tell Ruto

A section of Azimio lawmakers have poked holes into the just launched Sh50 billion Hustler Fund saying it is not what President William Ruto promised Kenyans during campaigns.

MPs Antony Oluoch (Mathare), Mark Mwenje (Embakasi West) and Babu Owino (Embakasi East) said what was launched on Wednesday does not mirror what the Kenya Kwanza administration promised to voters.

Oluoch said 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.

“A Sh50 billion fund is being set up by the government by way of regulation, which is an affront to the role of Parliament. This is a charade and not what they promised the people of Kenya,” the Mathare MP said.

“We don’t have a law passed by the House to anchor the Fund,” Mwenje.

In the absence of enabling Act, Oluoch wondered about the source of the billions that are being wired to Kenyans in form of a loan.

“We have not received our CDF money and we suspect that this is part of the money that is being channelled to this Hustler’s fund,” Oluoch said.

As currently operationalised, Oluoch said the Fund is illegal and must be aligned with the law.

The lawmakers also accused the Ruto administration of sneaking in interest on the Fund which was initially sold to Kenyans as a grant.

Babu said the amount being advanced is too little urging the government to consider raising the minimum loan to Sh100,000.