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Kenya Kwanza Administration Launches Hustler Fund to Assist Lower Income Earners with Low Interest Loans

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 | 1 year ago