Money deducted from the now popular Hustler Fund, a program initiated by the government, has reached a milestone of SH677 million. State House Spokesperson Hussein Mohamed reported that over 17 million customers have joined the program, conducting transactions totaling SH23,090,600, with 4,971,502 of those customers being repeat users. So far, SH13,551,532,174 has been disbursed to Hustler Fund users, with SH5,877,097,463 being repaid.
During a recent interview with journalists, Kenya’s President Dr. William Ruto said that the money deducted when users borrow from the Hustler Fund will be invested in government securities. This investment areas are known for their reliability and lack of default or other market related issues. The government is et to unveil Hustler Fund Board to manage. Ruto stated that once investments begin, participants in the Hustler Fund will be able to track their saved amounts and profits through an application.
Majority of low-income earners in the country, whom the fund was designed to help will surely welcome the news considering it’s incredible milestones since it was launched. As of now, over 17 million Kenyans have signed up for the Hustler Fund. Deductions from the Fund in form of savings will be invested in government securities and users will be able to access through an online platform. Hustler Fund if well managed will prove to be secure and trustworthy option for saving and growing personal funds.