Over Ksh. 90 billion has been disbursed through the Financial Inclusion Fund popularly known as the Hustler Fund with over 28 million Kenyans borrowing from the fund.
Speaking after receiving updates on the progress of the fund, the head of state has said they will continue financing the fund to enable more Kenyans get accessible credit.
He added that the fund continues to lend approximately Sh50 million every day, highlighting the sustained demand for affordable government-backed credit.
“We will continue resourcing the fund so that Kenyans can continue accessing the most affordable credit in the country.”
Borrowers have collectively saved Sh7 billion, a development he described as a major achievement in fulfilling the fund’s broader goal of mobilising national savings.
Of the 28 million who have taken loans on the platform , 10 million are repeat borrowers with 4.5 million having stellar ratings.
The President has said the highly rated borrowers “have good scores of A and B courtesy of their good borrowing and repayment behaviour.”
The hustler fund was introduced in 2022 by the Kenya Kwanza government to deal with what the head of state termed as predatory lending and blacklisting of borrowers by lenders.
