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Wednesday, January 11, 2023 – President William Ruto plans to reward handsomely those who have already repaid their Hustler Fund loans by reviewing their loan limits upward.
This was revealed by Cooperatives and MSME Development Cabinet Secretary Simon Chelugui.
According to Chelugui, reviewing the loan limits will enable Kenyans to borrow more money to grow their business ventures.
“We continue to urge Kenyans to borrow and pay because that is the only way you can grow your limits. But if you cannot repay a loan with the smallest interest of 0.02 per cent then I don’t think you’re being fair to yourself,” he said.
Chelugui also said preparations for the launch of the Hustler Fund second product—SME, Saccos, Startups and Chama loans—are in top gear, noting the second product will be launched next month.
“Beneficiaries will be able to access loans ranging from Sh100,000 to Sh2.5 million, he said. “The second product will be bigger and better,” said Chelugui.
“The Hustler Fund has directly touched about 18 million Kenyans since it was launched… this is a big number and goes to show that Kenyans have embraced it wholeheartedly,” he said.
Meanwhile, the Hustler Fund debt repayment was yesterday inching towards 50 percent as the savings account hit Sh678 million, slightly more than one month after President William Ruto launched it.
The Kenyan DAILY POST.