A record 20000 groups have joined the group loan fund in Just a day- CS Chelugui.
Speaking to the media, Cabinet secretary in the ministry of co- operatives, micro small and medium enterprises, has announced that the second product of hustler fund, was well received by Kenyans.
He expressed his enthusiasm saying already over 4,504 groups were approved for credit and they already had secured their loan.
He stated,”Just a few hours after H.E President William Ruto launched the second product of the Hustler Fund— for groups, a record 20000 groups have joined the initiative.”
“Out of these, 4,504 groups have been processed successfully. They will then get their limits and this will enable them to borrow the money immediately,” he added.
He thanked Kenyans for trusting president William Ruto’s Bottom Up initiative that aims to reach those at the bottom of the pyramid as we move up.
He stated,”We have made big strides. I am glad that Kenyans have embraced the Hustler Fund wholeheartedly. The Bottom Up Economic Transformation Agenda (BETA) is firmly on track. Thank you all for the support.”
Yesterday, The cabinet secretary highlighted tht the Hustler Fund has been remodeled around credit scoring as opposed to blacklisting which had negatively impacted MSMEs.
He challenged those who have taken a loan through the personal finance product to ensure they maintain a good credit history by repaying the loans advanced in good time.
CS Chelugui also challenged the MSMEs to organize themselves in goal-oriented associations/chamas that are focused on entrepreneurship and register themselves to be able to benefit from this product.