The Ministry of Cooperatives and Micro Small and Medium Enterprise Development Cabinet Secretary has revealed that barely 24 hours after President William Samoei Ruto launched the Hustler Fund, a total of Sh408 million have been disbursed with over 1.14 million Keyans having fully registered themselves in the kitty. The kitty is specifically designed to boost small scale traders.
The Hustler fund is a digital financial inclusion initiative designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) in Kenya. The fund brings you credit to where you are – transforms credit into “credit on the go.”
During it lauch, President William Ruto said the Fund ushers freedom for cash-strapped low-income individuals and groups, referred to by the moniker hustlers, and who formed his core support base.
Kenyans can borrow money from the Hustlers Fund using the short code *254# on Safaricom, Airtel and Telkom networks after it was officially unveiled by President William Ruto yesterday, Wednesday. The loan limits being a minimum of Sh500 up to a maximum of Sh50,000 based on the borrower’s credit score. The fund will attract an interest of eight per cent annually.
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