42 % of Kenyans Approve Hustler Fund, CS Chelugui

Cabinet Secretary for Cooperatives and Micro and Medium Enterprise Development Simon Chelugui has said that the Hustler Fund has the approval of 42 percent of Kenyans.

Speaking during the debut of Airtel’s premier product, Chelugui noted that the program has now helped 19 million Kenyans.

“As we speak today, 42 percent of Kenyans have given this program the highest approval and rating for its success,” said Chelugui.

Leading telecom companies Safaricom and Airtel were also recognized by the CS for their contributions to the development of the fund.

The amount disbursed stands at Sh27 billion, with the state handling 235,000 transactions per second.

“For rich man 500 shillings is nothing, but for a hustler, that is enough reason to put food on their tables. Our detractors should know this,” he said.

The government intends to increase the hustlers’ funds to 200,000, according to Chelugui.

President William Ruto established the Sh50 billion Hustlers Fund in November of last year with the goal of enabling Kenyans to obtain loans of up to Sh50,000 at an interest rate of 8%.