Train Kenyans on how to utilise funds

Deputy President William Ruto address believers at Nyayo National stadium during a prayer service.

President William Ruto. A majority of Kenyans have expressed dissatisfaction over the amount being offered, which is by all standards a red flag to the well-intended Ruto's hustler fund.

Photo credit: File| Nation Media Group

The Hustler Fund is a very good intervention in addressing the current socio-economic challenges in Kenya today, particularly poverty and unemployment. Indeed it will address these issues well if and only proper Hustler Fund Orientation (HFO) will be done.

This is upon proper training and uncompromised dissemination of the basic entrepreneurial skills that the beneficiaries need before thinking of getting the funds. A majority of Kenyans have expressed dissatisfaction over the amount being offered, which is by all standards a red flag to the well-intended hustler fund.

Why should the amount come before the businesses are funded? Who is the target for the fund if not a real hustler in terms of business size and age?

There are key factors to consider before the implementation of the same, among them being loan orientation training or HFO, appraisal and risk mitigation methods. What will guide this is the target group being very clear because if it is for everybody then even when it comes to monitoring progress and measuring the impact, it will be terribly impossible.

The notion that “this is government money” and “a gift to pay back for our votes from Kenya Kwanza government” will give a good breeding environment for default.

Training Kenyans that loan money is not charity money will be very key, bearing in mind that the betting culture which breeds the get-rich-quick attitude, more benefits with little effort is prevalent among many in Kenya regardless of gender, age or other orientations.

The hustler's money could end up in the wallets of those who own the betting companies and consequently more frustrated citizens due to a lack of proper orientation before the money is disbursed.

Credit appraisal, as I echo, cannot be overemphasised. If people are already overfunded through digital lending based on the current hardship in the economy, how sure are we they will pay what is tagged Government of Kenya “GK” dubbed Hustler Fund?

Co–guaranteeing may be a method to try out where groups will guarantee their members their commitment to pay the money if their fellow members fail to. As a risk mitigation tool, I believe the Hustler Fund will reach the people who really need it.

All this will require training in nurturing small businesses, customer relationship management, personal financial management and group dynamics. 

Anne Ndirangu, Nairobi

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Loans are very important for any business or investment to thrive. The Hustler Fund is a loan meant to improve the lives of the poor. Now the loan terms are out and some people are opposed to it. We have countless Kenyans who, if offered a loan of just half of the maximum hustler loan, suffering would end.

Joseph Kioko Makuu, Nairobi.