NAIROBI, Kenya, Nov 1 – Speaker of the National Assembly Moses Wetangula says President William Ruto’s flagship programme, the Hustler Fund will receive adequate resources ahead of its launch on December 1.
Speaking during an interview on KBC Swahili Service, Wetangula disclosed that the National Treasury and Majority Leader Kimani Ichungwah have assured him that the Fund will have an initial allocation in the Supplementary Budget.
“The Hustler Fund is something that must be factored into the Budget and I have been informed by the Majority Leader, that the Supplementary Budget is coming. This Supplementary Budget will the allocation for the Hustler Fund, at least in the initial stages, we have everything in place to ensure that the Hustlers receive what is due to them,” he said.
President Ruto’s administration has committed to providing loans to small firms such as motorcycle transport operators (boda-boda) and women-owned ventures at single-digit interest rates without collateral.
The Sh50 billion annual fund will support micro, small, and medium, enterprises.
Speaking in his first address to a joint sitting of the Senate and National Assembly, President Ruto asked Parliament to pass a soon-to-be-tabled supplementary budget bill to enable his new administration attain some of the key promises he made in his campaign pitches and reshape the country’s fiscal environment.
