The government has rolled out a programme to sensitise Kenyans on operations of Hustler Fund and its products.
Co-operatives and Micro Small and Medium Enterprises Cabinet Secretary Wycliffe Oparanya said Cabinet approved the programme after reports that the fund has failed to meet its objectives.
“This exercise was will be conducted throughout the 47 counties under the co-ordination of National Government Administration Officials and Kakamega government. We’re hoping it will be completed before close of this financial year," he said.
Oparanya said the initiative seeks to enhance the uptake of the fund and spur economic growth.
He said all other agencies within the ministries will also be mobilised to sensitise the public on their services.
Co-operatives, agriculture, housing, health and MSMEs are critical areas the Kenya Kwanza government is seeking to use to transform the economy, the CS said.
Oparanya spoke during a Financial Inclusion Fund sensitisation forum for Kakamega county at Masinde Muliro University in Kakamega on Monday.
Lurambi MP Titus Khamala, Ikolomani MP Bernard Shinali, MMUST vice chancellor Solomon Shibairo and Hustler Fund acting CEO Elizabeth Nkukuu attended the function.
The CS said the ministry, in partnership with the National Assembly and the Senate is developing policies that will help build synergies.
Oparanya said the Start-up Bill, 2021 currently undergoing public participation, will give direction on how one can start a businesses and how the government will guide them through.
He said 17 million out of the 20 million Kenyans in employment are in the MSME sector, adding that growth of the sector will create jobs.
The CS said 20 million Kenyans have accessed the Hustler Fund and borrowed Sh60 billion since its inception. Oparanya said structures are being put in place to streamline the fund’s operations, warning that those who have defaulted in repayment will soon be arrested.
“As long as you have given your ID number, you will be arrested,” he said.
Oparanya said the ministry has created MSMEs connect forum where all key partners in the private sector meet and share challenges and deliberate how best to tackle them.
He said the outfit is currently going round the country to collect views on what ails the sector and how to address them.
