The Financial Inclusion Fund, popularly known as the Hustler Fund, has disbursed KSh90 billion to 28 million borrowers as the government seeks to expand access to affordable credit.
Speaking in State House, Nairobi , President William Ruto said the fund continues to play a key role in providing accessible financing to Kenyans, adding that the government will continue resourcing the programme to ensure borrowers can access affordable credit.
The Hustler Fund currently offers three products: Personal Loans, Bridge Loans and Hustler Groups. According to the President, the Fund is lending about KSh50 million daily to customers across the country.
The programme has also recorded 10 million repeat customers, with 4.5 million borrowers receiving good credit scores of A and B based on their borrowing and repayment behaviour.
Beyond lending, the Fund has mobilised KSh7 billion in savings from borrowers, highlighting its contribution to the government’s goal of promoting a culture of saving among Kenyans.
The head of state further noted that the milestones had been achieved through a fully digital platform, with the Fund’s lending and other processes digitised.
“I am very proud that these milestones have been achieved purely on a digital platform and the processes have all been digitised.” he said
