Home Business State to review Hustler Fund limits, Chelugui says

State to review Hustler Fund limits, Chelugui says

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Cooperatives and Micro, Small and Medium Enterprise Cabinet Secretary Simon Chelugui. PHOTO | File

Cooperatives and Micro, Small and Medium Enterprise ministry is set to announce new Hustler Fund loan limits this Thursday.

In an exclusive interview with KBC Channel1, Cabinet Secretary Simon Chelugui said the objective of the review is to align the loan limits with the current socio-economic landscape, ensuring that the government’s financial support remains relevant and accessible to a broader segment of the population.

The review will mark one year since the fund was launched to empower citizens through accessible financial resources.

To date, 21 million borrowers including repeat ones have accessed the loan facility.

As of October 31, 2023, the government had disbursed Ksh 26.6 billion, with borrowers saving Ksh 2.3 billion.

Repayment rate is currently at 72pc.

In addition, the criteria for accessing the loan facility is expected to be revised in measures to expand access of the Hustler Fund.