Wednesday, February 15, 2023 – Economist David Ndii has dropped a bombshell on the real owners of President William Ruto’s Hustler Fund.
Speaking during an interview yesterday, Ndii inadvertently revealed that Hustlers Fund was a project of a group of private companies that were loaning economically vulnerable Kenyans.
Ndii, who is serving as the Chairman of the President’s Council of Economic Advisors (CEA), was responding after he was hard-pressed to reveal the persons behind the Hustlers Fund.
“The hustler fund is run by the private sector; we have no access to it. No public official has access to the hustler fund. It is run by an engine provided by telecom companies,” Ndii explained.
He maintained that President Ruto’s government was just a facilitator but not the source nor the owner of the Hustlers Fund.
The economist further moved to dispel the rumour that President Ruto and a few individuals were behind the Hustler Fund kitty.
This is after two petitioners, Bernard Odero Okello and Kevin Ndoho Macharia, moved to court in December 2022 to challenge its establishment.
In their petition, the two argued that President Ruto acted contrary to the law by establishing the Ksh50 billion kitty.
In their petition, the two petitioners claimed that the fund was being disbursed to Kenyans yet there was no proper system for management.
In particular, the petitioners explained that Hustler Fund had no board of directors to regulate the Hustler Fund and a Chief Executive Officer as required by the Public Finance Management (Financial Inclusion Fund) Regulations, 2022.
However, their attempt to have the fund suspended until the matter is heard and determined was utterly rejected by the court that gave President Ruto the green light to implement his economic recovery policy.
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