President William Ruto in state house
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.

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