Sign in
Download Opera News App



Kenyans have saved 740 million in the hustler fund.

From the 25 million transactions that have been registered since the Hustler fund was established, Kenyans have saved Sh740 million.

Borrowers have also taken home Sh14.8 billion, according to the most recent data made public by Cooperatives Cabinet Secretary Simon Chelugui.

Borrowers have paid back Sh6.8 billion, or approximately 50%, by Monday at 3 p.m.

18 million Kenyans have signed up for the service and are currently using the money.

After a revision of the loan ceiling, those who previously qualified for Sh500 now qualify for more than Sh900.

The review, according to the CS, was based on the person's repayment history.

The fund, which was introduced by President William Ruto on November 30, represents the Kenya Kwanza administration's largest election commitment to common Kenyans.

At the same time, there are currently 5.3 million people who have borrowed money more than once.

Through the fund, "we have directly impacted more than 18 million Kenyans, and we are pleased with the progress we are making," the CS declared.

According to the present trend, daily savings of Sh8 million have been made for the past 20 days.

Next month, the Hustler Fund's second offering, which targets saccos, groups, startups, and chamas, will be released, according to Chelugui.

Content created and supplied by: Vincentvinshaz (via Opera News )


Load app to read more comments