Enterprises will now have access to affordable and accessible financing to spur their growth.
This follows today’s launch of the second product of the Financial Inclusion Fund, known as the Hustler Group Loan.
President William Ruto said this will boost the hustler spirit and deepen financial inclusion in the country.
The birth of the Hustler Group Loan follows the launch of the Hustler Fund early in the year that has described as revolutionary.
So far, the Fund has witnessed 42.5 million transactions through which 20.2 million Kenyans have accessed about Sh30 Billion.
Out of this amount, Sh19.7 Billion has been repaid.
“Not a single shilling has been stolen through corruption,“ President Ruto insisted.
He said he was keen on ensuring that businesses access affordable credit.
“That is the route to ensuring that enterprises grow, generate more earnings and create more jobs for millions of underprivileged Kenyans.”
He was speaking on Thursday in Moi Stadium Embu during the Madaraka Day celebrations.
Groups will be able to register, apply loan and receive the money digitally, with all group members receiving notification via their phones.
The amount will start from Ksh 10,000 to 200,000 and eventually scaled up to Ksh2,000,000.
