The Financial Inclusion Fund, popularly known as the Hustler Fund, has disbursed Sh90 billion to 28 million borrowers since its launch, President William Ruto has said.
Ruto said the Fund, which provides affordable credit to Kenyans, is currently lending about Sh50 million daily through three products.
The President made the remarks after receiving a brief on the progress of the Financial Inclusion Fund.
“Received a brief on the progress the Financial Inclusion Fund, popularly known as the Hustler Fund, is making in the lives of customers. We will continue resourcing the fund so that Kenyans can continue accessing the most affordable credit in the country,” Ruto said.
“So far, the Fund has disbursed Sh90 billion to 28 million borrowers on three products—Personal Loan, Bridge Loan and Hustler Groups—and is lending Sh50 million a day,” he added.
According to the President, the Fund has attracted 10 million repeat customers, with 4.5 million of them recording good credit scores of A and B based on their borrowing and repayment behaviour.
Ruto said borrowers had also saved Sh7 billion through the Fund, describing the achievement as a major milestone in efforts to mobilise national savings.
“I am very proud that these milestones have been achieved purely on a digital platform and the processes have all been digitized,” he said.
The Hustler Fund was established by the government to provide affordable credit to individuals and groups while promoting financial inclusion and encouraging a savings culture among Kenyans.
The government has continued to position the Fund as a key component of its financial inclusion agenda, particularly by expanding access to credit through digital platforms.
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