Former Mukuruweini constituency MP, Kabando Wa Kabando, on Saturday expressed his concerns about the reports of government’s plans to borrow funds to be channelled to Hustlers Fund.
The were reports on Thursday that President William Ruto is set to borrow from the World Bank again and this time, the president intends to use the new loan to cater for the Hustler Fund. This is to enable the fund to continue serving Kenyans.
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However, this has not gone well with the former Mukuruweini constituency member of parliament.
He criticized the government for borrowing a substantial amount of money, specifically Sh20 billion (sh20b), from the World Bank and European Union to finance what he called a “phantom private enterprise” which he says is just a scheme to loot.
Kabando Wa Kabando further cited the demise of other funds such as the Youth Enterprise Fund, Uwezo Fund, and Women Enterprise Fund.
He claimed that these funds were killed intentionally for another scheme to be established. According to him, the Funds are no longer operational or receiving adequate support.
According to him, the situation contradicts the promises made by Deputy President William Ruto regarding his “bottom-up” economic approach.
The former MP went on to compare the Hustler Fund to other alleged scams, such as the Uasin Gishu “First Choice” jobs and Finland “scholarships” scams.
SOURCE: https://twitter.com/Wakabando/status/1692834424541630792?s=19
According to Kabando Wa Kabando, the Hustler Fund lacks essential components such as a directors board, CEO, enabling legislation, and parliamentary oversight. He described it as a “slush fund,” dubious, phantom-like, and operated by mercenaries.
“Hustler Fund’ is a racket just like the Uasin Gishu ‘First Choice’ jobs and Finland ‘scholarships’ scams. It has no directors board, no CEO, no enabling legislation, no parliamentary oversight. It’s a slush fund. It’s dubious. It’s a phantom. It’s mercenaries-operated. Sleaze.” He said.
SOURCE: https://twitter.com/Wakabando/status/1692848859037516019?t=nyBjODDQzJ6RKOh4PGhdTQ&s=19
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