The Hustler Fund, launched by the Kenya Kwanza administration, aims to uplift lower income earners through affordable loans. Kenyans with Small and Medium-sized Enterprises who have been blacklisted by Credit Reference Bureaus can access the fund through mobile network operators in Kenya with loan amounts ranging from Ksh.500 to Ksh.50,000 at a low interest rate of 8% per annum. To apply, individuals must be Kenyan citizens over 18 years of age with a valid national identification card, registered mobile number, mobile money account, and SIM card in use for over 90 days. After loan approval, 95% of the amount will be received by the loanee with the remaining 5% divided into long and short-term savings.
By Fridah Wangechi | 5 months ago