President William Ruto has said the money deducted from the Hustler fund will be used to invest in government securities.
"Government securities are the surest. There are no default or other problems," he said.
In an interview with the media, the President said the government has come up with an organization which has been licensed by the RBA to manage the savings.
"The amount is approximately Sh700 million as of today, and will be managed by the organisation," 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."
