Hustler fund limits increased by 50 to 100% to 6 Million hustlers
|President William Ruto chairing cabinet.|
Beginning on Saturday, February 4, 2023, the current regime has promised to increase the Hustler Fund maximum loan for nearly 6 million Kenyans.
On Friday in Nairobi, at the 50th anniversary of the Kenya Police Service, President William Ruto made the announcement.
While encouraging more Kenyans to sign up for the credit facility, which has been used by over 14.2 million people so far, the president warned that anyone who borrows money and pays it back on time will have their limit raised.
“I also promised the Kenyan people that, in addition to saving, every Hustler Fund member who borrowed money would be given the chance to borrow additional money if they returned it. The day we grow is today,” he said.
“Of the 14.2 million, we’ve selected 6 million for credit limit increases.”
6 million Hustler Fund members will be able to access more money now; some will be able to access twice as much as they have been; another 8% will be able to access double what they have been.
Ruto’s promise that his government will look at credit limits every four months to try to raise personal limits was enough to convince all consumers.
Every four months, we will examine each member’s credit limit. “To allow for everyone’s growth, we will establish an extra ceiling for you,” declared President Ruto.
At the same time, the President announced a brand-new program that would give the people who get the money a financial grade based on how well they borrow, save, and pay back their debts.
“Every Hustler Fund member will get a financial grade, which will indicate whether they are doing well or need to work on their credit. You will also be told what factors contribute to a high score,” he added.
Before the president spoke, both the opposition and the general public had asked for the loan ceiling to be raised.
Currently, individuals may get loans from Ksh. 500 to Ksh. 50,000 by dialing the USSD number *254# from any of the three telecoms, Safaricom, Airtel, or Telkom, on their mobile devices.
Bandits mock security forces in North Rift operational area, kill 2 in Baringo, West Pokot – The Informer
Cabinet Approves Extradition Deal Between Kenya and China
Marburg Virus Outbreak Kills Five People In Tanzania » Uzalendo News
President Ruto Responds To Raila’s Weekly Protests
Maseno University student killed in Raila protests » Capital News
Shock as kenyan diaspora man edward morema and wife murdered
Twenty-Three Kenyan Entrepreneurs to represent the country in the upcoming Forty Under 40 Africa Awards 2023 : TechMoran
Marburg virus related to Ebola hits Tanzania, kills five people
Chevrolet Camaro will be dead officially after 2024 : TechMoran
Latest Mobile App Development Trends To Dominate In 2023 : TechMoran
Protesters set ablaze UDA offices in Siaya
Air Tanzania records a loss of billions despite the growth in the country’s aviation sector
Azimio protestors in Siaya set ablaze UDA party offices » Capital News
Kenyans tease Larry Madowo about his interview with Davido
12 wafariki kwenye ajali Naivasha – Taifa Leo
Identity of Kenyan Who Died After Qatari Building Collapsed Revealed
Man charged with stealing Sh849,000 after drugging reveller in Kasarani
TSC To Approve Pending Transfers Of The Following Delocalized Teachers
Music piracy increases by 59.2 million in Kenya, IFPI report shows
Azimio Will No Longer Issue Protest Notices To Police » Uzalendo News
General News5 days ago
Tornadoes Kill 23 And Bring Devastation To Mississippi – Eagle News Feed – Nairobi Times
Sports7 days ago
NSL: Shabana look to end first leg on a high
General News7 days ago
Ruto retains Ex-Solicitor General Ogeto to be Legal Advisor, Karisa Nzai Political Affairs Advisor » Capital News
Entertainment7 days ago
PEAKY BLINDERS’ CILLIAN MURPHY LANDS FIRST BAFTA NOMINATION – GhettoRadio 89.5 FM
Politics7 days ago
Siaya MCAs Divided over Secret Plot to Impeach Oduol – Weekly Citizen
General News7 days ago
Hustler Fund disbursement grows to Sh24bn in three months – Capital Business – Nairobi Times
Business News7 days ago
KCB Foundation to Empower MSMEs in Elgeyo Marakwet County, targeting to create 2,000 jobs – Kenyan Business Feed
Entertainment4 days ago
Azimio must train supporters on peaceful demos