Enterprises will now have access to affordable and accessible financing to spur their growth.
This follows Thursday’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 been 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.
Comoros President Azali Assoumani, Deputy President Rigathi Gachagua, Prime Cabinet Secretary Musalia Mudavadi, Cabinet Secretaries, Embu Governor Cecily Mbarire, MPs, Former President of Niger Issoufou Mahamadou, among others, were present.
The Head of State told the nation that he was keen on enhancing food production through subsidising production.
He said so far, five million farmers have registered and benefited from the Government’s subsidised fertilisers.
“As a result of these interventions, farmers have been able to plant 200,000 additional acres of food this year,” he said.
On health, the President explained that the Government will reform the National Health Insurance Fund to meet the needs of Kenyans.
He noted that the he was committed to delivering Universal Health Coverage.
To deepen this goal, he said the Government has collaborated with Counties to recruit community health promoters.
“These promoters will facilitate early detection of conditions for referral to further attention.”
The Deputy President said the Government had initiated practical measures that will put more money in the pockets of the people.
Mr Gachagua said he will be leading town hall meetings with farmers to come up with sustainable plans that will uplift them.