According to major network carriers, Hustler Money debtors can access the fund by dialing *254# Following its inauguration by President William Ruto, Kenyans who have service with Safaricom, Airtel, or Telekom would need to phone the short number to access the loans.
The Head of State earlier clarified that the funds would be distributed as loans rather than grants, despite his initial announcement to Kenyans that they would be. He added, "It is not free money; it is business money you will repay. We want to ensure that Kenyans don't become victims of loan sharks who demand exorbitant interest rates.
The Hustlers Fund money will only be used by small and medium-sized businesses to enhance their operations, the supplement continues. If you take up a loan from the Hustlers Fund, you will invest the money in your firm and pay the government back at an annual interest rate of less than 10%.
President Ruto stated they would involve Parliament in creating rules to control operationalization, with a department overseeing the Hustlers fund to ensure accountability.
"I've heard rumors that committees are being set up to supervise the program's implementation. Be extremely explicit with me. No committee is being established to get ready for the Hustlers Fund. He said, "If you try to steal money from the government, we will deal with you by the law. The Hustler Fund has an annual budget of Sh50 billion.
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