Ruto: Give me time, I'll put money in your pockets

Calling for patriotic sacrifice akin to the selflessness shown by Independence heroes, he said the knock-on effects of his policies will create millions of jobs, widen the tax bracket and lift millions out of poverty.

From expanding the multi-billion Hustler Fund to accommodate more people, to drumming up support for the controversial three per cent housing levy, the President asked Kenyans  to give him a little more time, some more patience and endure the pinch that comes with it, then the results will show.

".... those earning Sh200,000 monthly will pay only Sh2,500 to a fund that helps create jobs for millions of youth and brings a meal on the tables of many hustlers. This is a worthwhile contribution to make for the greater good," he said, likening their sacrifice to the struggle that brought Independence.

Further, Ruto declared the Hustler Fund as revolutionary that has brought economic inclusion even as he announced the launch of the second phase targeting organised groups with higher amounts.

“Without a doubt, the Hustler Fund has been more than transformational; it is revolutionary,” Ruto said.

“As a result, Kenya’s digital economy has received a tremendous shot in the arm as demonstrated by reports that Safaricom alone has enrolled at least 2 million new subscribers into its financial ecosystem courtesy of the fund.”

He said the total number of digital transactions now stands at 42.5 million through which 20.2 million Kenyans have accessed nearly Sh30 billion, and repaid Sh19.7 billion, with seven million being repeat customers.

The President announced the fund is graduating to a bigger second phase where organised groups like chamas and saccos will access between Sh20,000 to Sh1 million.

Ruto stated that the safeguards put in place around the fund have ensured not a shilling is lost to corruption.

“Not a single shilling has been stolen through corruption, and borrowers do not need to know anyone, bribe any official or go through complex bureaucratic procedures to access the Hustler Fund,” the President said.

“They only need a device, a little airtime and a few minutes, and they are able to get money wherever they are.”

Comoros President Azali Assoumani was the chief guest at the event held Moi Stadium, Embu county.

In agriculture, Ruto said his administration has registered five million farmers nationwide who immediately became eligible to receive subsidised fertiliser, "and those who stepped forward received their full fertiliser requirement unlike in past seasons when the allocations were rationed.”

As a result, he said,  the farmers have been able to plant 200,000 additional acres of food this year and used two million more kilogrammes of seed.

To sustain value addition, he announced that aggregation and industrial parks were being established in all the 47 counties.

Five additional export zones will be built in the coming financial year in Sagana, Thika, Njoro, Eldoret and Busia to complement the one in Athi River.

“Our special economic zones in Dongo Kundu, Naivasha and Isiolo will act as further catalysts in attracting domestic and international investments,” he added.

On the blistering public outcry against his Finance Bill 2023 and the proposed housing levy, the President said the intense debate was testament to the democratic maturity of the country and the mature discourse that his election campaign heralded.

“Our public discourse and political discussion and the agenda of social debate has changed for good. Substantive policy issues continue to define the national conversation well beyond the election. At the moment, there is a robust debate on the Finance Bill taking place everywhere in this country: Church, social places, formal and informal workplaces, all media platforms and busy markets, as well as in urban and rural gatherings,” he said.

He asked critics of the housing plan to look at the programme as part of the job creation enterprise that will absorb millions of Kenyans through multiplier effect created by the sector.

The construction chain will see millions of educated but jobless or underemployed Kenyans find work as accountants, quantity surveyors and transporters among others, he said.

A single housing unit, he noted, is capable of employing three-five workers directly, and an additional eight workers indirectly, in the manufacturing of construction products, transport and logistics.

“There was the misconception around expanding the national tax base: Is it about people paying more or more people paying? The answer lies in empowering more Kenyans to enter the taxable income category through intentional effort to create millions of new jobs,” the Head of State said.

“The Affordable Housing Programme is therefore an intervention supporting the local construction industry, including the Jua Kali sector, to create high quality and competitive opportunities for manufacturers and jobs for citizens.”

The President further affirmed his campaign promises to put money in the pockets of low-income earners despite criticism from opposition and civil society groups including trade unions over unmet promises.

“The cost of living is keeping all leaders, including myself, awake, and this is precisely as it should be,” he said.

To check the high cost of living, the President said that his administration has registered five million farmers across the country who will be eligible for the subsidised government fertiliser.

The President announced plans to introduce electric vehicles for the public transport system to counter the ever-rising cost of petroleum and check the cost of transport.

He said that by September this year, boda boda operators who have a huge slice of their income go to the exorbitantly priced petrol will benefit for wider financial inclusion and they will transit to electric bikes.

“Our boda boda industry is about to experience inclusive transformation through the introduction of more efficient, affordable and clean vehicles. With this intervention, owning and operating a boda boda will become affordable, secure and profitable.”

Ruto also put up a strong case for the outcome of the August 9, 2022 presidential elections terming the results water-tight and transparent by global standards.

“Kenya also set a new high in election management by deploying a secure, freely accessible public portal which accurately and faithfully relayed vote tallies in the last election, enabling Kenyans and indeed anyone else to compare and verify tallies and ascertain results,” Ruto said.

“This enabled the IEBC to credibly declare and certify the winners of elections, and to establish before court, in response to petitions by dissatisfied candidates, that the elections met the constitutional threshold as simple, accurate, verifiable, secure, accountable and transparent.”

“In fact, the openness and credibility of the 2022 election are affirmed by the fewer petitions filed; 124 petitions compared to 303 in 2017.”