Savings is not a tax or a burden- Ruto talks of plan to avert Kenyans from poverty.
The head of state, has recommended saving as an alternative way to avert poverty. Speaking during the Social Protection Conference in Nairobi, he stated that the only security Kenyans have is saving up their money.
He stated that this will be a good route for young ones to develop a saving up culture and old individuals to avoid old age poverty.
He stated,”Savings is not a tax, savings is not a burden, it’s the money you set aside for when you’ll be in desperate need.
He expressed that through the social support money, the vulnerable will be able to be helped. He decried that it is unfortunate people have to suffer when they have been working all their life.
He stated,”We have had social protection money disbursed even as late as after seven months, which is late from the stipulated time, it is grossly unjust to wait for whatever time.”
“Older citizens, orphans and vulnerable children, as well as people living with extreme disability, have a right to receive support now,” he added.
He also encouraged citizens to save using the hustler fund,” Right now, we have an option of saving through the fund without borrowing money.”
He promised to disburse the social protection money by the 6th month of this year, before civil servants are paid.
He stated,”16.1 per cent of Kenyans live below the poverty line at the moment. The number of people living in extreme poverty peaked during the covid pandemic, reaching 8.9 million people
From June 1, before salaries of the public servants are paid, cash transfer of the vulnerable will be disbursed, the cabinet approved and I have also instructed the Ministry of Treasury about the same,” he added.
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