NAIROBI, Kenya, June 23 – The Government has disbursed a total of Sh32 billion under the Hustler Fund, highlighting the demand for the loan facility among Kenyans.
Co-operatives & Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui confirmed that over 20 million Kenyans have opted into the programme.
Over 44 million transaction have also been recorded, he added.
As per the CS, Sh21.1 billion has been repaid so far with Sh1.6 billion held as savings.
The kitty is part of President William Ruto legacy project under the ‘Bottom-Up’ economic initiative that seeks to provide Kenyans affordable credit.
In his speech during the recent Labour Day celebration, Ruto announced plans to increase credit facility under the kitty to Sh200,000.
“Beginning next month, we will launch the second phase of Hustler Fund, in which you, as a kiosk owner, barbershop operator, or boda-boda operator, will be able to borrow from Sh10,000 to Sh200,000,” he said.
