Tuesday, February 21, 2023 – Last week, the Chairman of President William Ruto’s Council of Economic Advisors, David Ndii, revealed that the financial inclusion fund, popularly known as the Hustlers Fund, is solely run by players in the private sector.
According to Ndii, the system through which the fund is being disbursed is fully automated and no public official can access the system’s details.
Ndii stated giant telcos in the country and some financial institutions partnered with the government to disburse the funds.
“The Hustler Fund is run by the private sector, we have no access to it and no public official has access to the Hustler Fund; it is fully automated. It is run by the private sector, run by an engine provided by the telcos.
“The money stays with a custodian in a bank,” Ndii stated.
The five private companies that own hustler fund are ;
1. Safaricom
2. Telcom
3. Kenya Commercial Bank
4. Family Bank
5. Airtel Kenya
The Kenyan DAILY POST