President William Ruto has promised that his administration will increase the allocation to the Hustler Fund to enable many Kenyans to continue borrowing from the government kitty to boost their businesses.
Speaking at State House Mombasa on New Year eve, Ruto stated that the government will increase the fund every month to ensure that Kenyans that borrowed Ksh500 can borrow Ksh50,000. He also revealed that Kenyans had borrowed more than Ksh20 billion from the Hustler Fund since it was launched on November 30, 2022.
“We agreed that we are going to build this economy from the bottom up and we have started that journey. That is why we initiated the Hustler Fund and to date, Kenyans have borrowed over Ksh20 billion to boost their businesses. We will increase the fund every month to ensure that Kenyans that borrowed Ksh500 can borrow Ksh50,000,” Ruto said.
Ruto further revealed that the government will launch the second phase of the Hustler Fund to cater for Saccos and other small institutions to give all Kenyans an equal opportunity to borrow at a small interest to boost their businesses.