President Ruto To Reward 3,000Ksh to all Hustler Fund Customers Who Borrowed 5 times in a Row

Kenyan President William Samoei Ruto has announced that he will be rewarding Kenyans with a sum of 3,000 Ksh for all those who have constantly borrowed five times.

Speaking earlier today during the Hustler Fund’s first anniversary celebration in Nairobi, William Ruto said the government will on Friday reward 1.2 million borrowers with a matching fund in their long-term savings account in the ratio of 1 shilling for every two shillings saved.

“Some 1.2 million Kenyans by tomorrow morning will have a matching fund in their accounts. You must have demonstrated that you are truly committed to the Hustler Fund by borrowing five times. If you have borrowed five times and saved Ksh.6,000, we will give you Ksh.3,000.” President Ruto assured.

He said Kenyans have saved Ksh.2 billion in total from their loans so far.

At the same time, President Ruto said the government will now make short-term savings accessible to customers to provide greater flexibility and immediate benefits from their savings efforts.

Launched on November 30, 2022, the Hustler Fund targets Kenyans who could not access credit after having been blacklisted by various credit rating agencies.

It offers loans from a minimum of Ksh.500 to as high as Ksh.50,000 on an eight percent prorated basis, or a daily rate of 0.002 percent.