Pay in time to hit Hustler Fund’s maximum limit of Sh50k, CS Chelugui says
Dear hustlers, here is a foolproof way of hitting the maximum limit of Sh50,000 in the newly unveiled Hustler’s Fund.
Cooperatives and MSME Development Cabinet Secretary Simon Chelugui has urged Kenyans to adopt the borrow-and-pay model saying this is the only way to grow with the Hustler Fund.
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In his updates on the Hustler Fund performance on Monday, the CS said that the only way for the borrowing limit to grow faster is by paying on time.
“The idea is to start small and grow big…so long as you repay without delay you’ll be able to grow and get the maximum amount which is Sh50, 000,” CS Chelugui said.
While lauding Kenyans for embracing the Hustler Fund wholeheartedly, the CS said the only way to enhance his creditworthiness is by paying back the loan on time.
The CS said that one of the biggest discussions during the campaign was the establishment of the Hustler Fund to support ordinary Kenyans, which President William Ruto fulfilled when he launched the fund last month.
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CS Chelugui said that as of Monday 9 am, Sh9.6 billion had been disbursed to hustlers and that more than 16.5 million Kenyans have been registered and are accessing the fund.
According to the latest figures, Kenyans who borrowed the Hustler Fund had repaid Sh2.7 billion by 9 am, translating to 23 percent of the amount disbursed.
Also, the number of Kenyans who have borrowed more than once now stands at 2.7 million and growing by the minute.
At the same time, borrowers have saved Sh480 million from some 17 million transactions recorded.
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The CS stated that there is no committee, secretariat, or directors for Hustler Fund.
“It’s only you and your phone; you get the money by just pressing the buttons on your phone.”
Apart from personal finance, the Hustler Fund comprises micro business, SME, and Startup loans which will be launched in February, as earlier announced by the President.
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