NAIROBI, Kenya, April 25 – Cabinet Secretary for Cooperatives and Micro and Medium Enterprise Development Simon Chelugui has said that the Hustler Fund has the approval of 42 percent of Kenyans.
Speaking during the launch of Airtel’s premier product, Chelugui observed that 19 million Kenyans have since benefited from the plan.
“As we speak today, 42 percent of Kenyans have given this programme the highest approval and rating for its success,” said Chelugui.
The CS also thanked leading telecommunications providers Safaricom and Airtel for being at the forefront of the fund’s success.
The amount disbursed stands at Sh27 billion, with the state handling 235,000 transactions per second.
“For rich man 500 shillings is nothing, but for a hustler, that is enough reason to put food on their tables. Our detractors should know this,” he said.
Chelugui further stated that the government is planning to raise the hustlers’ funds to 200,000.
The Sh50 billion Hustlers Fund was launched by President William Ruto in November last year with the intention of seeing Kenyans borrow loans of up to Sh50,000 at an 8 percent interest rate.
