The Government has disbursed a total of Ksh 90 billion to 28 million borrowers through its three products: the Personal Loan, Bridge Loan, and Hustler Groups.
Revealing the updates on the Hustler Fund progress Wednesday to Kenya’s Head of State William Ruto, Cabinet Secretary for Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Development, Wycliffe Oparanya said the Fund has 10 million repeat borrowers, 4.5 million of whom have earned A and B credit scores through responsible borrowing and timely repayment.
According to CS Oparanya, the Fund is currently lending Ksh 50 million daily to active borrowers who have built a strong credit history.
“So far,the Fund has disbursed KSh90 billion to 28 million borrowers through three products;Personal Loan,Bridge Loan and Hustler Groups while currently lending Ksh 50 million daily,” he said.
Through the programme, active borrowers have saved Ksh7 billion, a major milestone that reflects the Fund’s role in mobilising national savings.
President Ruto said that his administration will continue resourcing the fund so that Kenyans can continue accessing the most affordable credit in the country.
“I am very proud that these milestones have been achieved purely on a digital platform and the processes have all been digitised,” said President Ruto.
The flagship programme introduced by the Kenya Kwanza administration in 2022 to support Kenyans with products that are responsive to their enterprises while creating opportunities for millions of people at the base of the wealth pyramid.
CS Oparanya was accompanied by the Principal Secretary for MSME Development, Ms. Susan Mang’eni, the Hustler Fund Chief Executive Officer and other senior officials.
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