Hustler Fund Update: Sh5.8b Repaid As Savings Soar to ShSh677m

January 9, 2023

As of noon Sunday, December 18, beneficiaries of the Hustler Fund loan product had accumulated over Sh677 million in savings.

An update released by State House Spokesperson Hussein Mohamed showed the Hustler Fund had disbursed Sh13,551,532,174.

The number of customers who have registered for the Hustler Fund stood at over 17 million while the total transactions as of Sunday were 23,090,600.

Repeat customers were approaching the 5 million mark at 4,971,502, while Sh5,877,097,463 had been repaid.

Total savings amounted to Sh677,557,694, which will be used to invest in government securities.

“Government securities are the surest. There are no default or other problems,” President Ruto said on January 4.

Ruto also said the government has set up an organization that has been licensed by the RBA to manage the savings.

“The amount saved is approximately KSh 700 million as of today and will be managed by the organisation. We will increase the amount of savings,” he said.

Once the investments begin, Hustler Fund beneficiaries will be able to view the amount saved through the online app.

“Once we start the investment, the available application will show how much a borrower has saved, and profit gained. Everybody will be able to follow online,” Ruto added.

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