Ruto To Grace Hustler Fund Anniversary

It offered much-needed relief and a new lease of life to millions of Kenyans who could not access credit after having been blacklisted by various credit rating agencies, by offering them loans from as minimum as Ksh.500 to as high as Ksh.50,000 at 8 per cent pro-rated basis or a daily rate of 0.002 per cent.

Co-operative and Micro, Small, and Medium Enterprises Cabinet Secretary Simon Chelugui was mandated the mantle to spearhead the fund alongside the managing board comprising of;

• A non-executive Chairperson appointed by the President.
• A Principal Secretary to the National Treasury or their representative
• The Principal Secretary of the State Department responsible for Micro, Small and Medium Enterprises or their representative
• The Principal Secretary of the State Department for matters relating to Trade or their representative
• The Attorney General
• Two other persons, not being public officers who shall be appointed by the Cabinet Secretary
• The administrator of the fund who shall be the Secretary of the board and ex-officio member.

  Hustler Fund’s acting CEO Elizabeth Nkuku says that as of November 28, 2023, a total of 21.5 million Kenyans have enrolled on the platform.

  About Ksh.39.6 billion has been borrowed and Ksh.29 billion has been repaid by close to 19 million Kenyans.

  8 million Kenyans are repeat customers and among them, 5 million have borrowed more than five times and repaid and 1,000 people have borrowed more than 100 times.

   Kshs.2 billion has also been saved