President Ruto Announces Increase in Loan Limits for Six Million Hustler’s Fund Borrowers in Kenya

Kenya has seen a boost in its efforts to help its citizens improve their living standards. President William Ruto recently announced the increase of loan limits for six million regular loan borrowers from the Hustler’s Fund. The fund, launched on November 30, 2022, aims to provide affordable loans and support the growth of small and micro businesses, a move expected to impact the lives of many Kenyans positively.

The President announced during the Kenya Police Sacco 50th anniversary in Nairobi and also stated that 18 million Kenyans have enrolled in the fund, with 14.2 million having borrowed. He emphasized that the administration is keen on building a sense of savings among the citizens, as development and investment are primarily dependent on savings.

The President stated that a pool of savings is currently being built, as they are close to reaching a billion shillings, and it has only been three months. The Hustler’s Fund has already distributed over 17 billion shillings, and its members have saved 850 million shillings in the past two months.

To qualify for the Hustler’s Fund, one must be a Kenyan Citizen over 18, possess a valid identity card, and have a mobile wallet with either Safaricom, Airtel, or Telcom. This requirement makes it easy for people to apply for loans and start small businesses. The Head of State also acknowledged that 800,000 borrowers need to catch up in payment, but he is confident they will catch up soon.


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