Kenyan Business Men Borrow 408M after Hustler Fund Launch
Barely Two hours after the Hustlerfund was launched by President William Ruto, Kenyan businessmen and women had borrowed ksh. 408 Million to boost their hustles.
Christine Juma 
Cooperative Cabinet Secretary, Simon Chelugui, on Thursday, December 1, stated that the government had already disbursed the funds to the applicants.
Chelugui also disclosed that 1.1 million Kenyans had registered to receive the payments. The CS said the response was positive and mentioned the milestones that could be reached with the money.
"For the first time in the history of our country, we have a Ministry dedicated to two sectors which have over the years enjoyed a symbiotic relationship in that not only have co-operatives Supported SMEs through Financing & capacity building, but they are in themselves small businesses.
"The Hustler Fund can help empower those at the bottom of the pyramid in many ways. For example, we can aggregate tomato farmers along Molo River into Co-operatives, enable them to access funding and connect them to Twiga Food to sell their produce," read the statement in part.
President William Ruto interacts with traders during the launch of the Hustler Fund at the Green Park terminus on Wednesday, November 30, 2022.
Kenyans can now access credit with a Ksh500 minimum through the funds. An individual may borrow a maximum of Ksh50,000 with a 14-day repayment term. The maximum available to groups and startups is Ksh250,000.
On Wednesday, November 30, Ruto addressed the nation and claimed to have raised the money to help Kenyans who were in need of assistance.
Through the Hustler Fund, President William Ruto seems to have fulfilled one of his promises barely less than 100 days in office ever since he was sworn in as the 5th President of Kenya.
The Hustler Fund - was one of the main promises of Ruto during the campaigns in the run to the August 9 polls was launched on November 30.
