Kileleshwa MCA Robert Alai has sensationally claimed that the Azimio la Umoja camp will come up with a credit platform dubbed ‘Inawezekana Fund’ to counter the Kenya Kwanza’s, Hustler Fund.
In a statement on his social media handles on Wednesday, November 30, Alai stated that the Inawezekana Fund would be accessible at an almost zero percent rate.
“We as Azimio will soon launch Inawezekana Fund at almost zero interest to show Hustlers that they are being duped. Fuliza domiciled in State House is dangerous,” Alai said in a tweet.
His remarks came hours after President William Ruto launched the Hustler Fund on Wednesday to help ordinary citizen’s access cheaper loans.
“A friend of mine keeps telling me that every angel has a past and every sinner has a future. So even if in the past you have not been good at credit and you have been locked out of the credit system, the Hustler Fund is giving you a second chance,” Ruto said while launching the Fund.
The Fund has however received criticism from a section of Azimio politicians who term it a pyramid Scheme.
Suna East Member of Parliament on Tuesday chastised the credit platform for giving the same interest rates like other lending platforms.
“There are cooperatives lending at 8 percent in this country and even lower than that. Why don’t you make the interest rate 1 percent if you want to change the lives of Kenyans? “ Junet posed.
Nominated MP John Mbadi on his part likened the Hustler Fund to Fuliza where the principal amount is deducted before it reaches the borrower’s accounts. “This is a fuliza government with a different name. It has borrowed all the bad manners from these money-lending apps,” he stated.
“I have never seen a bank that deducts 5% of the money you have borrowed to save for you. We don’t borrow money to save, we borrow money to invest and do business,” Mbadi added.
Also Read: How to Apply for the Hustler Fund Using USSD & Mobile App
