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.

Lawrence Baraza

Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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