By John Kariuki.
Njuguna Kioi & Associates LLP, through the Managing Partner Chris Kioi has lauded the creation of the hustler fund to avail seed business capital to millions of Kenyans to start businesses to support themselves and help grow our economy.
Mr Kioi also expressed importance of having structures in place to help manage the fund as well as auditing the fund so it can be a sustainable revolving fund
“It’s good that the Hustler Fund means well for the people of Kenya but I would highly suggest that parameters ought to have been put in place to assess and evaluate viability and sustainability of the said fund,” said Kioi
he adds that For example, it’s true many people have borrowed billions of the Hustler Fund, what checks and balances are there to ensure prompt repayment and avoid the risk of defaults.
“The fund also ought to have put in place considerations such as capacity building for the beneficiaries before they could enjoy the money. This is not a grant, it’s a loan which ought to be repaid in order to benefit other people. Also what bank is holding the said funds? All these are crucial issues that ought to be considered.”
Mr. Kioi also offered a free advisory to counties to fast track the projects that had already been initiated instead of abandoning them.
“All the projects in the counties are in the interest of the public. So the newly elected leaders ought to prioritise on completion of the projects that had already been initiated. Let’s all safeguard public interest and not individual Interests,” he concluded.
Njuguna Kioi & Associates LLP is a distinguished audit firm located at Post Bank Pension Towers (Makini Herbal) Muranga Road 1st Floor. Nairobi. Tel 0746445127, 0208049178