Major Blow For President Ruto As Hustler Fund Loan Defaulters Fail To Repay The Money
Reportedly, more than 40% of Hustler borrowers who withdrew after the fund's launch failed to meet the required 14-day repayment period. According to reports, this could be the beginning of a potential crisis facing the new administration in managing the Sh50 billion Hustler fund. This comes after the government revealed yesterday that the Sh9.58 billion Hustler fund has been paid out to 16.59 million borrowers since President Ruto's announcement.
Hustler Fund Faces New Threat as About Half of Borrowers Fail to Honor 14-Day Mandatory Repayment
It has emerged that more than 40% of Hustler Fund borrowers who took the loans after its launch had failed to honor the mandatory 14-day repayment window. According to reports, this might be a beginning for potential crisis that the new administration faces in managing the Sh50 billion Hustler Fund.
Fred's Eye-Opening Revelation: Western Kenya's Uptake of Hustler Fund Shows an Impressive Borrowing
Speaking on Kenya TV 47, Fred Ogola (management and political strategist) said that Hustler Fund's biggest income generation comes from western Kenya. He is of the opinion that Westerners have a habit of borrowing. However, a month ago, the Hustler Foundation was launched by President William Ruto.
Most Uptake of Hustler Fund is from Western Kenya, They've a Borrowing Habit, Fred Says.
Speaking at TV 47 Kenya, Fred Ogola (governance and political strategist) opined that the most uptake of Hustler Fund is from western Kenya. He said this claiming that western residents have a borrowing habit. However, a month ago, the Hustler Fund was launched by president William Ruto.
SMS Short Code To Access Hustlers Fund Loan Unveiled, This Is How To Apply
Simon Chelugui, Cabinet Secretary for Co-Agents and SMEs Advancement stated that the Huster Asset would not accept new students. According to Chelugui, the entire process of utilizing the credit will be self-driven via an SMS short code that will take the borrower to a predetermined menu. "We encourage members of the general public to disregard any and all communications inviting them to register for assets via a website or telephone number," he said.
Hustler Fund: Govt Reveals Amount Kenyans Borrowed in 24 Hrs
Within 24 hours of President William Ruto's Hustler Fund inauguration, Kenyans borrowed Ksh408 million from it. Simon Chelugui, the cooperative cabinet secretary, said on December 1 that the government had already given the applicants their money. Chelugui also disclosed that 1.1 million Kenyans had registered to receive the payments.
Government Reveals Amount Kenyans Borrowed in Today
Kenyans borrowed Sh408 million from President Ruto's Hustler's Fund within 24 hours of its launch. This is equivalent to borrowing $1.7 million per hour. What a large sum! Simon Chelugui, the cooperative cabinet secretary, revealed on Thursday, December 1st, that the government has already disbursed the funds to the applicants.
Ruto's Plan To Make Kenyans Repay Hustler Loan As CS Chelugui Alleges What Will Happen From Feb 2023
The President Hon William Samoei Ruto has promised to increase the loan limits of those who borrowed the hustler loan as he made it clear that they are focused on credit regeneration that will help in enhancing economic recovery. The repayment period will also be revised as the Cooperatives CS Chelugui said that they are engaging stakeholders in the agencies.
Here Is Why Your Hustler Fund Limit Can't Grow - Cs Chelugui Reveals How To Increase Limit
According to data provided by Cooperatives and MSMEs CS Simon Chelugui, the counties with the greatest number of Hustler fund users are Nairobi, Kiambu, Nakuru, Machakos, and Meru. Customers who borrow money from the Hustler Fund, Cooperatives and MSMEs Development CS are subject to borrowing restrictions set by mobile networks and financial institutions.
In Need of Hustler Funds? Simon Chelugui as Reveal SMS Code to Use When Applying For Hustler Funds
No enrollment is anticipated for the Huster Asset, according to Simon Chelugui, Cabinet Secretary for Co-agents and SMEs Advancement. According to Chelugui, customers will use an SMS short code to access a particular menu and complete the entire credit application process. "We encourage members of the general public to disregard all forms of communications inviting people to sign up for resources on a website or by phone," he said.
Cs Simon Chelugui Reveals President Ruto To Launch This Another Hustler Fund Product In February
Simon Chelugui, Cabinet Secretary for Cooperatives and MSME Development, stated on Friday that the product will be bigger and better. "In February, the President will introduce a new Hustler Fund product. Kenyans would be able to borrow more money from Sh100,000 to Sh2.5 million with this one "said he.
Government Makes Two Major Announcements Over Hustler Fund.
Kenyans who have opted into president William Ruto's Hustler Fund scheme and those who are planning to opt in, have got every reason smile after government made two major announcements over The Fund. CS Simon Chelugui Iin a past meeting. Photo/Courtesy According to a reliable source which spoke with the cabinet Secretary for Small and Medium enterprises Simon Chelugui disclosed that the fund will be reviewed this month of January.
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.
Amount of Money In Ksh Repaid Back By Kenyans To Hustler Funds, DP Gachagua Blast Sifuna Leadership
DP Rigathi Gachagua has told Off Azimio Senator Sifuna who told people to borrow funds and not pay hence showing how people would have suffered if Azimio took over the Government. President Ruto has warned Kenyans that Raila was on a mission to exploit ordinary Kemyans in advancing his political agenda after calling out for street protests following the suspension of IEBC 4 commissioners.
Procedure On How To Access Hustler Fund
Cabinet Secretary for Co-operatives and SMEs Development Simon Chelugui had said there will be no registration required for the Huster Fund. Chelugui says borrowers will use an SMS short code that will take them to a certain menu, leading all the way to the application of the loan.
Cs Chelugui Reveals How To Increase Your Hustler Fund Limit & Why Your Hustler Fund Limit Can't Grow
Customers are subject to borrowing limitations imposed by cell networks and financial institutions while borrowing money from the Hustler Fund, Cooperatives, and MSMEs Development CS. Simon Chelugui said. Data from Cooperatives and MSMEs CS Simon Chelugui indicates that Nairobi, Kiambu, Nakuru, Machakos, and Meru counties have the highest concentration of Hustler fund users.
Why most Kenyans would prefer hustler funds.
Hustler fund has now shifted over 3.5 million Kenyans from fuliza loan. The rate at which the money was borrowed after the launch, was so surprising. Within 24hrs, Kenyans had withdrawn over sh408 million from hustler fund. On 1st December, Chelugui said that some 1.14 million Kenyans had registered for the hustler fund loans.
Kenyans Grab KES 408M In 12 Hours After The Official Lauch Of Hustler Funds
Kenyans across the country have borrowed a total of Ksh.408 million within 12 hours after the official launch of the hustler funds on Wednesday by President William Ruto. Cabinet secretary Chelugui has noted that over 1.2 million Kenyans have applied and received the KES 408 million hustler funds. Earlier, the administrators of the hustler funds noted that over 600 Kenyans have been making loan applications per second.
Review of Hustler Fund Limit to Take Place Next week, CS Chelugui.
Hustler Fund, Kenya Hustler fund is an initiative that has been laid down following the pledge by the President William Ruto to aid micro, small and middle-sized enterprises grow. It was launched on 30th November 2022 and its utilization being high currently. Many Kenyans received this initiative with open arms with many smiles in their faces.
Govt Of Kenya Reveals Ksh 408M Was Borrowed At Period Of 24 Hrs After Hustler Fund Was Launched
Within 24 hours of President William Ruto Hustler Fund inauguration Kenyans borrowed Ksh408 million from it. Simon Chelugui the cooperative cabinet secretary said on December 1 that the government had already given the applicants their money. Chelugui also disclosed that 1.1 million Kenyans had registered to receive the funds.