Nairobi — The Hustler Fund kitty has so far disbursed Sh3.6 billion according to latest released by Ministry of Cooperatives and Micro Small and Medium Enterprises.
The date shows that to date 10.6 million have registered for the Hustler Fund, and sh 190 million has since been paid back by Hustler Fund borrowers.
The Hustler Fund, a digital financial inclusion initiative launched by President William Ruto, provides access to credit for individuals and MSMEs. Individuals can borrow between sh 500 and sh 50,000.
On the first day, Kenyans borrowed an average of sh 17 million an hour, highlighting the appetite for cheap loans.
Those wishing to borrow from the Fund only need to dial *254# to access the fund, and one must be a Kenyan citizen aged 18 years and above, with a valid Identification Card and Registered Mobile number with mobile network providers like Safaricom, Airtel and Telkom.
One will also be required to have a mobile money account that is either Mpesa, Airtel Money or Tkash, and the sim card must have been in use for more than 90 days.