The cabinet secretary for cooperatives and MSMEs, Simon Chelugui, has said that barely 24 hours after President William Ruto launched the Hustler Fund, Sh408 million has been disbursed.
In a statement, Chelugui also revealed that 1.14 million Kenyans have so far been registered in the kitty which is specifically designed to boost small scale traders.
President William Ruto launched the long-awaited fund on Wednesday, fulfilling his pre-election promise to set aside Sh50 billion for ‘hustlers.’
“Through the launching this fund, we are supporting underserved Kenyans with services and products that are responsive to their enterprises as well as liberating them from shylocks and establishing a culture of saving, investment, and social security,” said Ruto.
The Hustler Fund is made up of four products-personal, micro business, SME and start-up loans.
To access the fund, Kenyans can dial *254# on their mobile phones.
