Friday, April 14, 2023 – Hustlers are about to get another raw deal concerning Hustler Fund loans.
This is after President William Ruto, through Co-operative Cabinet Secretary Simon Chelugui, revealed plans to introduce another deduction on the Hustler Fund loans, something that will see hustlers receive reduced amounts once they borrow loans, contrary to their expectations.
However, according to Chelugui, new deductions are aimed at enhancing health insurance among Kenyans.
Speaking during a meeting in Nairobi County, the CS revealed that the National Health Insurance Fund (NHIF) had approached the ministry to have borrowers contribute to their health insurance through the fund.
According to the CS, the proposed deductions stood at Ksh17, with further discussions being held.
The CS explained that the move would benefit many Kenyans and entrepreneurs who were occasionally forced to spend a lot of money when seeking treatment.
He noted that the deductions would also cover those with children.
“Over 10 per cent of the population borrows from the Hustler Fund daily. 19.7 million Kenyans have borrowed Sh26 billion and have repaid Ksh16 billion, which is 62 per cent.
“NHIF is engaging with us with the view of also taking out Ksh17 daily from the hustler and putting it in their health insurance and this amount will assure them of medical and accident expenses,” the CS stated.
Following the revelation, several Kenyans, including representatives of the SMEs, backed the planned deductions as they noted that many Kenyans either lacked health insurance or were inconsistent in making their monthly payments.
The Kenyan DAILY POST.