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.
Content created and supplied by: @buksmedia (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More