Hustler Fund Loans Hit Sh26bn as Ruto Praises CS Chelugui

April 12, 2023

President William Ruto has commended Co-operatives Cabinet Secretary Simon Chelugui for the smooth running of  the Hustler Fund.

Speaking Tuesday during the release of the Performance Contracting Report for the 2021-2022 financial year, Ruto said the CS had done a commendable job in the rollout of the Hustler Fund within a short time.

“I want to commend many public servants who put in their very best and we can see it; the people can feel it, we’re witnessing. I must commend the ministry responsible for Hustler Fund, in a record 90 days we had a product that seven million Kenyans are borrowing every day and paying,” he said.

Ruto added: “We have a product that has given us an opportunity to lend Sh26 billion in a record five months.”

Data from the Co-operatives Ministry shows Sh26 billion had been disbursed to Kenyans by 7 am Tuesday, April 11.

Borrowers had repaid Sh16 billion while savings hit Sh1.3 billion from 38.6 million transactions.

19.6 million Kenyans have registered with the fund while those who have borrowed more than once are 6.8 million.

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