Cooperatives Principal Secretary Susan Mang'eni has dismissed allegations that the ministry embezzled Ksh8 billion belonging to the Financial Inclusion Fund, popularly known as the Hustler Fund.
In response to allegations of possible financial misappropriation, Mangeni on Thursday denied assertions made by Nancy Gathungu, the Auditor General, that the Ministry of Cooperatives was unable to account for the funds.
According to Gathungu's report, which was presented to parliament on Tuesday, June 17, the Ministry only spent Ksh12 billion out of a Ksh20.2 billion approved budget, leaving Ksh8.2 billion in the dark.
The Ksh8 billion was set aside to match the savings of the hustler fund beneficiaries, and the Ksh200 million was set aside to support the Fund's operationalisation, the PS explained in response to Gathungu's allegations.
