‘Hustler Fund loan limits to increase by midnight’ – Ruto announces

Saturday, February 4th, 2023 07:04 | By
Hustler Fund Ruto
President William Ruto presides over the National Assembly's Post-Election Seminar 2023 in collaboration with the Commonwealth Parliamentary Association (CPA) in Mombasa on Monday, January 30, 2023. PHOTO/State House Kenya (@StateHouseKenya)/Twitter

President William Ruto has today, Friday, February 3, 2023, announced that the Hustler Fund credit limit will increase effective midnight.

Speaking during the Kenya police Sacco anniversary in Nairobi, the Head of State announced that only six million members who have opted into the programme will access increased credit limits starting today.

He additionally underscored that members who repay their loans on time would have the privilege of borrowing more from the kitty.

"Let me say I also committed to the people of Kenya that beyond saving and every member who borrows on the hustler fund will have an opportunity if they repay, they will have an opportunity to borrow more… today ndio hio siku tunaongeza, " Ruto said amid cheers from the crowd.

"Of the 14.2 million Kenyans we have identified six million of them to increase their credit limit; So six million members from the hustlers' fund from tomorrow you can access more money, some of you will access double what you have been accessing, some of you will access another 80 per cent of what you have been accessing," he added.

Further, Ruto also announced that they would review the credit limit of every member after every four months.

According to Ruto, 18 million Kenyans have registered with the Hustler Fund since its inception.

Out of this, at least 800,000 Kenyans had defaulted on their loans.

"About 800,000 are behind schedule in payment but it is my hope that they will refund to be able to pay more," Ruto said.

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