Hustler fund limit to be reviewed next week

The Hustler Fund loan limit will be reviewed next week, Cooperatives and MSME Development Cabinet Secretary Simon Chelugui has said.

Speaking at his home in Kisanana, Baringo County where he hosted locals for a Christmas celebration, CS Chelugui assured Hustlers that the limits will be reviewed at the start of this month.

However, he said the review will be based on the individual’s repayment record.

“Those who took the money and didn’t pay might be dropped along the way… That might be their end of the journey,” he said on Tuesday.

CS Chelugui described the progress so far as impressive saying a total of Sh11.3 billion had been disbursed by 9am Tuesday while the repayment was Sh4.1 billion translating to 37 percent.

At the same time, 17.2 million Kenyans have been registered—and, are accessing the financial inclusion kitty that President William Ruto launched on November 30.

So far, the savings account has reached Sh570 million from some 20 million transactions. In total, 4 million Kenyans.