Co-operatives and Micro and Small Medium Enterprises Cabinet Secretary Simion Chelugui has 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.
A total of 23 million Kenyans have opted in and have transacted, he said.
Chelugui said the issues raised by the Auditor General last year were system problem issues, adding that by that time they did not have the right team running the ministry.
He noted that they have identified two million Husler Fund subscribers to be upgraded.
On the issues raised on the client identification without an ID he said borrowing can not be completed without a national ID and one must have a registered sim card, adding that data is available and verified, he said.
"Only five did not have their ID captured," Chelugui said.
He said the issue of duplication of loan ID was a case of customers topping up their existing loans.
On the concern about data manipulation, the CS said there could be a possibility of having data error but they have aligned the data clearly so far and are ready for a second check by the Auditor General.
