President William Ruto has said he will take responsibility if the Hustler Fund fails.
When asked who will take responsibility, in case the fund fails after two years, Ruto firmly said; "William Ruto takes responsibility."
Ruto was peaking during a round table interview with journalists at State House, Nairobi on Wednesday.
He said the fund is fully dependent on technology.
"The fund only involves three; the borrower, a mobile phone and technology," he said.
He was defending the Hustler Fund from criticism that it is not anchored in law.
Ruto said even though the fund could have missed several legal processes, its success is more important than anything else.
"I agree that the process is very important, but the results are more important, what matters is Hustler Fund is working very well," he added.
During the Swahili session, the President said 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.
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."
