Narok Senator Ledama Ole Kina has termed the Hustler Fund loan platform recently launched by President William Ruto as illegal.
In a tweet, the Senator Said the fund is not backed by any legislation hence, according to him, it is an illegality.
The Senator now demands that the fund should be stopped because arguing that Kenyans are being lied to.
"The hustler fund is illegal. @WilliamsRuto doesn’t have any money to give Kenyans for free. Parliament has not passed any budget with billions of shillings to give Kenyans for free! Stop lying to Kenyans! We must stop this illegality!" He tweeted.
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The fund has attracted millions of Kenyans who have registered and borrowed money from it.
As of Friday midnight, a total of Sh1,381,747,777 of the Hustler Fund had been disbursed to Kenyans.
This was 72 hours after the launch, which took place on December 1, 2022, at the Green Park Terminus.
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 the total repayment of Sh48,526,204.
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.
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