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Ruto: Hustler Fund is on its way to becoming biggest financial institution by number of borrowers

Thursday, June 1st, 2023 16:43 | By
We’ll deal firmly with rogue churches, President warns
President William Ruto during a Sunday service at A.I.C Milimani Church, Nairobi, on Sunday, May 14, 2023. PHOTO/(@WilliamsRuto)Twitter

President William Ruto has lauded the Hustler Fund's efficiency and sustainability since its launch terming it 'revolutionary'.

Speaking during the 60th Madaraka Day celebrations held at the Moi Stadium in Embu on Thursday, June 1, 2023, the Head of State acknowledged that the Hustler Fund was expanding its wings to become the country's biggest financial institution owing to the number of borrowers and active loans.

He says the progress was turning around the country's Fintech and transforming it from a predatory ecosystem to a more responsible one. This he says has subsequently led to tremendous growth in the country's digital economy.

"On its way to becoming effectively the biggest financial institution by the number of borrowers and active loans, the Hustler Fund also turned around the country's fintech, transforming it from a predatory ecosystem to a more responsible one,"

"As a result, Kenya's digital economy has received a tremendous shot in the arm as demonstrated by reports that Safaricom alone has enrolled at least 2 million new subscribers into its financial ecosystem courtesy of the Fund," he stated.

No corruption

While lauding the financial project, the president assured Kenyans that the Hustler Fund was well-secured and no shilling was stolen through corruption.

He hailed the Financial Inclusion Fund's efficiency noting that its accessibility has made it easier for Kenyans to access funds without going through difficult procedures.

"Not a single shilling has been stolen through corruption and borrowers do not need to know anyone, bribe any official for anyone or go through any complex procedures to access the Hustler Fund. They only need a device, a little airtime and a few minutes and they are all able to get money wherever they are." Ruto added.

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