President has announced when blacklisted Kenyans are likely to get their freedom. He said that all blacklisted by mobile money lenders will be removed from the list in two weeks’ time.
The President was speaking on Sunday during an interdenominational church service at Green Stadium in Kericho county.
He said the removal from the list will enable Kenyans access Hustler Fund at ease which he said he will launch on December 1.
However, the president clarified that the hustler funds will not be a freebies frenzy as kenyans must meet some conditions to access loans from the kitty without collateral.
The president Urged Kenyans who want to benefit from hustler funds prepare themselves to receive the money by joining either a sacco, a savings cooperative or Chama.
However, he added that there is nothing like free money from the government and no one should expect to get free money. He said hustler funds are meant for business and will be issued collateral free but the beneficiaries will be expected to pay an interest of 10%p.a.
The President further assured Kenyans that there will be no special committee that will award the loans from the kitty. He said anybody will be able to register and access the loans via mobile phones.
The President further warned those who may be planning to embezzle the funds or default on their loan repayment plans.
He further hinted that interest rate on Fuliza loans which were recently slashed may go down further depending on prevailing economic conditions.