President William Ruto has said that the Hustler Fund loan has already been seen as a great success because less than a week since it was launched as millions of Kenyans have borrowed and many have returned the loan with interest.
Speaking in the Mavoko constituency in Machakos county, Ruto said that the 5 percent interest that is deducted from the loan to fund the borrowers as a pension plan has already exceeded 200 million shillings in one week.
He praised the loan saying that the plan to invest 5 percent of borrowers' interest as their pension is a good plan that has been coordinated in a more effective way than the NSSF.
"I have confirmed that in the last week, savings from Hustler Fund borrowers have reached KSh 200 million. This tells you that the fund will collect more in savings than what the NSSF is currently collecting," President Ruto said.
He was leading the launch of the construction of affordable houses in the constituency where he said the Hustler Fund program is one way to ensure that the country in the near future will slow down in requesting loans from foreign countries.
"China and every other country that lends money has a strong national savings plan. The money they give us comes from the savings of people from the country. That's why we came up with this plan to continue our development."
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