Hustler fund is a fund that was promised to Kenyans on the lower side of the economic pyramid by President William Ruto.
He has since kept his promise and rolled out the fund.
Even though he promised hustlers a grant, they give it as a soft loan that is payable within a certain period.
There is uncertainty regarding the fund, how they run it and who is the owner of the fund.
This happens despite parliament not anchoring the fund in law, neither was it budgeted for.
Another issue that needs to be clarified is the amount that is automatically deducted as savings .
Kenyans haven’t been told how to access their savings from their money.
The small amount of money being given out is another downside to the fund.
This is because most hustlers feel the money is too little to make any meaningful impact .
Who Runs The Hustler Fund?
Ndii revealed that players in the private sector completely operated the hustler fund and the GOK has nothing to do with it.
He was speaking in an interview on Citizen TV.
According to economist David Ndii, the government or any public or government official has no access to the fund.
They have automated systems and disburse the funds without involving any Government official.
This means that no public officer is directly responsible for the fund.
If they swindle the hustler fund, then there is no one to ask because nobody knows where or how the fund works.
The companies have partnered with the government of Kenya to run the fund and the money stays with a custodian in the bank.
The Telecommunications companies are the ones that access the fund.
This should worry Kenyans and ask themselves whether the fund is from government or private business people.
A classic example of state capture? Only time will tell.