The former Governor of Kakamega County, honorable Wycliffe Oparanya has today changed his tune on the Hustler Fund. This is after quashing it and saying that his people will take the loans but will not repay it during one of the rallies that the Azimio La Umoja One Kenya Coalition had some time back.
He admitted and acknowledged that, he was among the people who were opposed to the Hustler Fund because he had not known the facts about the fund. He however stated that, he now knows about the Fund because he has been briefed.
Honorable Wycliffe Oparanya changed his tune and stated that, he now sees the Hustler Fund as a Fund that can change the lives of Kenyans and alleviate them from poverty. He however stated that, this can only happen if the funds are well managed.
The former ODM Deputy Party leader however stated that, the only thing that is wrong with the Hustler Fund is the fact that, it was launched in haste and in a hurry without any proper structures that were put in place. He said that, the Funds were launched without proper legal structures.
He also added that the Hustler Fund is a revolving fund and so far, the National Treasury allocated 13 billion shillings and because of borrowing again and again, the turnover has gone to 55 billion shillings.
Out of the 55 Billion shillings, a total of 21 million people have been involved in repeat borrowing and therefore, they have been able to recover 43 billion. He also said that so far, only 12 billion shillings have not been recovered, but there is a strong digital infrastructure, that is able to determine where the 12 billion shillings is and who has it. The only challenge in recovering it is that, there is no legal framework.
