Ruto explains how savings deducted from hustler fund loans will be spent.
According to President William Ruto, the funds deducted from the Hustler fund will be invested in government securities.
In an interview with the media, the President said the government has come up with an organization that has been licensed by the RBA (Retirement Benefits Authority) to manage the savings.
“Government securities are the surest. There are no default or other problems,” he said.
“The amount is approximately Sh700 million as of today, and will be managed by the organization,” he added.
Ruto said that once investments will begin, everyone who has to save through the hustler fund will be able to view the amount saved through an application.
“Once we start the investment, the available application will show how much a borrower has saved, and profit gained,” he explained.
“Everybody will be able to follow online.”