President William Ruto has officially launched the 50 billion hustler fund at the Green Park terminus in Nairobi. In attendance was deputy president Rigathi Gachagua among other leaders.

The president explained that the fund will loan Kenyans money from as low as 500 Kshs to 50,000 Kshs. Moreover, SMEs as well as new businesses too are eligible with a daily interest rate of 0.002%. the loan has four different products: personal loans, groups, small enterprises and cooperatives or corporations and should be paid back within 14 days.

According to him, 95% of the loan will be transferred to your mobile account while the remaining 5%will be transferred to your savings account in support of the Hustler’s Pension plan.

To access the loan, you just need to dial *254#and follow the steps on the menu or download the hustler fund app available on all android phones. On repayment, you make it through your mobile money account and the customer can only opt in once. The process is entirely digital.