Govt sets limit, conditions to access Hustler Fund before roll out December

The Kenyan government has capped the Hustler Fund at Ksh.50,000 with the kitty is expected to be rolled out this December.

The funds will attract an interest fee of 8 percent for each loan taken. The minimum amount one can take is Ksh.500.

It is a Ksh.50 billion programme which President William Ruto expects to use in his five-year tenure under the Bottom-Up economic model.

“The implementation of the Administration’s signature pledge is tipped to liberate the people of Kenya from the bond of predatory lending,” said the State House is a statement.

National Treasury has already unveiled regulations that will govern the Hustler Fund under the Public Finance Management Act.

For an individuals to qualify, he/she will be required to be above the age of 18 years and hold a Kenyan identification card.

The regulations also outlines that one will have to be a member of Micro, Small, and Medium Enterprises (MSMEs), SACCO societies, Chama and table banking groups, or any other registered association.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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