Hustler Fund in Kenya access photos

With 2,346,675 loans provided as of right now, Kenyans have taken Ksh. 1.381 billion from the Hustler Fund.

On Saturday, the government announced that 5,191,542 individuals had signed up for the fund that President William Ruto had established on the 30th day of November, 2022.

Government statistics show that on the financial technology system, Kenyans are transacting loans at a rate of around 223 per second, and loan applicants have already repaid Ksh. 48.5 million.

Kenyans can get loans from The Hustler Fund, an online lending platform, for a daily rate of 0.002%, or 8% if the loan is paid back over time.

By dialling the USSD code *254# from any of the three telcos—Safaricom, Airtel, or Telcom—on their mobile handsets, those who are eligible may receive loans ranging from Ksh. 500 to a maximum of Ksh. 50,000 individually.

When a client applies for a loan, the funds will be distributed to their mobile money account, with 95% of the entire authorised loan amount being placed into the user's mobile money wallet.

The Hustler Fund's savings account programme will get the remaining 5%.

The savings plan will allocate 30% of funds for short-term savings and 70% for long-term (pension) savings. 

As a result, 70% of the 5% will go to short-term savings and 30% to long-term savings. 

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