{"id":85555,"date":"2023-03-02T10:57:46","date_gmt":"2023-03-02T10:57:46","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-to-launch-second-product-of-hustler-fund"},"modified":"2023-03-02T11:30:44","modified_gmt":"2023-03-02T11:30:44","slug":"ruto-to-launch-second-product-of-hustler-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-to-launch-second-product-of-hustler-fund","title":{"rendered":"Ruto to launch second product of Hustler Fund"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Kenya. <\/strong><\/span>President William Ruto will on Thursday launch the second product of the Hustler Fund. This comes as the Hustler Fund seeks to partner with Sacco&#8217;s The product will provide low-interest loans to members of savings and credit cooperatives (Saccos) across the country.<\/p>\n<p>Ruto had announced another Hustler Fund product would be launched last month. Kenyans will be able to borrow a bigger amount ranging from Sh100,000 to Sh2.5 million.<\/p>\n<p>Last month, Cooperatives and Micro Small Enterprises CS Simon Chelugui encouraged Saccos to set up more Front Office Service Activities offices across the country to facilitate the partnership<\/p>\n<p>&#8220;You&#8217;re not just going to serve your members; we are going to partner with you. Hustler fund, even the distribution of government services like Inua Jamii, and now soon, delivery of subsidy fertiliser,&#8221; he said.<\/p>\n<p>President Ruto\u2019s Hustler Fund is one of the flagship projects he promised during his pre-election campaign. A person must be at least 18 years old and have a valid national identification card, a registered SIM card and a mobile money account with Safaricom, Airtel, or Telkom to qualify.<\/p>\n<p>The fund is specifically designed to support small-scale traders in the country. The Hustler Fund comprises four products: personal, micro business, SME and start-up loans.<\/p>\n<p>To access the fund, Kenyans can dial *254# on their mobile phones. During the launch, borrowers were warned against defaulting with the government issuing strict measures to curb the same.<\/p>\n<p>Those who default on the loans will see their interest rates increase from 8 per cent to 9.5 per cent. If a customer will not have paid the loans within the required time, they will be added an extra 15 days, before the increment of the interest rate.<\/p>\n<p>The borrowers who default will also have their Hustler Fund account frozen. At the same time, the Head of State will also relaunch the Women Enterprise Fund. This is a government initiative that provides women entrepreneurs with affordable credit and business support services.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/kenya\">Kenya<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Kenya. President William Ruto will on Thursday launch the second product of the Hustler Fund. This comes as the Hustler Fund seeks to partner with Sacco&#8217;s The product will provide low-interest loans to members of savings and credit cooperatives (Saccos) across the country. Ruto had announced another Hustler Fund product would be launched [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":85553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[6857,7003,544],"class_list":["post-85555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ruto to launch second product of Hustler Fund - kenya<\/title>\n<meta name=\"description\" content=\"President William Ruto will on Thursday launch the second product of the Hustler Fund. 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