CS Chelugui Responds to Hustlers Why Hustler Funds Limit Does Not Increase

Photo: Cabinet Secretary for Cooperatives and Micro and Small Enterprise Simon Chelugui 

In a press meeting on Monday, Chelugui has disclosed that the highest loan limit one can get from a hustler's fund is 5000shillings, and the least is 500shillings.

Most individuals were not okay with the limits given. They questioned the algorithm used to increase the limit as some had borrowed and repaid, but still, the limit had not increased.

‘Mobile networks and financial institutions are the ones setting limits for customers borrowing the Hustler Fund,’ Cooperatives and MSMEs Development CS Simon Chelugui has said.

‘They are using historic information available on their systems as communication and consumption of airtime,’ he further added.

The CS used the opportunity during the meeting to congratulate those borrowing the fund and using it to start a business. He encouraged individuals to use the borrow-pay technique to improve the country's economic situation.

He disclosed that as of 9:00 am, more than 9 billion had been disbursed to hustlers. ‘By 9 am today, Sh9.6 billion had been disbursed to hustlers… more than 16.5 million Kenyans have been registered and are accessing the fund,’ CS Chelugui said.

Source: The Star.

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