Wednesday, November 30, 2022 – President William Ruto has officially launched his flagship promise of the Sh50 billion Hustlers’ Fund in a ceremony held at the Green Park Terminus in Nairobi today. 

The fund was part of Ruto’s plan to elevate ordinary Kenyans through economic empowerment. 

According to a cabinet despatch released on Tuesday, November 29, the fund will provide 500 times cheaper credit to Kenya with a daily interest rate of 0.002 per cent.

There are four categories of loans: personal finance, microloan, SMEs, and start-ups.

The range for the personal loan category will be between Ksh500 and Ksh50,000, which should be rapid within 14 days. 

How to Apply

According to the ministry, applications for the loan will be through a USSD code *254# that will lead the user to a menu.  

Alternatively, you can also access the credit facility through mobile applications provided by mobile money service providers in the country. 

Dial USSD code *USSD code# or mobile application. 

Select the loan request option to view the limit, interest, and loan tenure. 

Enter the loan amount and press OK to continue 

Confirm loan details as displayed to continue 

Enter Mobile Money pin 

Receive SMS notifications on Loan allocation with relevant loan information.

The applicant must fill in details, including a business idea, clearance certificate from the police, Kenya Revenue Authority PIN, and address. 

Upon approval, 95 per cent of the money will be disbursed to the mobile money account, while the remaining five per cent will be sent to your savings account for the Hustlers pension program. 


Among the requirements set by the government for prospective beneficiaries include an age limit that requires applicants to be at least 18 years and above.

The responsibility to roll out and implement the plan is bestowed on the Ministry of Co-operatives and MSMEs. 

  • Must be a Kenyan citizen of 18 years of age and above
  • Must have a valid national Identification Card (ID)
  • Must have a registered mobile number from a recognized Mobile Network Operator in Kenya, i.e., either Airtel, Safaricom or Telkom, i.e., either Airtel, Safaricom or Telkom
  • Have a mobile money account, i.e., either Airtel Money/M-PESA/T-Kash
  • The SIM card in question can/ will only be eligible if it has been used for more than 90 days.
  • Reside and conduct economic activities in Kenya.
  • Provide the Location of residence during the onboarding process (where applicable).


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