Co-operatives and Micro and Small Medium Enterprises Cabinet Secretary Simion Chelugui dismissed reports of irregularities in the Hustler Fund.
Speaking during a press briefing on Tuesday, Chelugui said the issues raised by many Kenya were not true.
He said that all the money given to them to lend to hustlers has been accounted for and that no coin has been lost.
He stated that by the time of the launch of the fund 18 months ago more than eight million were blacklisted by Credit Reference Bureau.
"We sought as an administration to correct and address those market failures by establishing Hustler Fund," he said.
He said by Monday, the Hustler Fund had distributed over Sh54 billion and loan repayment of over Sh42 billion.