CS Chelugui gives Hustler Fund Update and progress.
Ministry of co- operatives and micro, small and medium enterprises, CS Chelugui gives Hustler Fund Update and progress as at yesterday.
He stated; So far, we have disbursed some Sh32 billion since the Hustler Fund, Personal Product, was launched about seven months ago out of which Sh22.5 billion has been repaid from some 46 million transactions.”
“The savings account stands at Sh1.6 billion. According to our data, 22 million Kenyans have opted in since the inception of the Financial Inclusion Fund,” he added.
He further outlined that Kenya kwanza through its bottom up agenda, they will create financial indepence in the country.
He stated,”BETA is going to unlock financial independence for the people at the bottom of the pyramid and we’re determined to ensure that the vision of our President is achieved within the timeframe.”
He added,”To transform the MSME sector, we need support from all our partners, reforms in favor of the sector and a policy shift that brings the sector to the core of important development discourses at all levels. As a Ministry, we are committed to this agenda and we will continue to reach out to all our development partners to support this noble course.”
The breakdown is as follows;
Hustler Fund Update:
Update as at 07/16/2023 9:00 AM OVERALL HF_Groups
Total groups created = 344,978
Members pending approval = 408,371
Approved Members = 817,884
Total Complete Groups = 33,919
Groups with Limit (Can borrow) = 28,144
Complete groups to be assigned limits = 12,086
Loan requests pending member approval = 2,269
Amount disbursed = 110,423,924
Unq borrowing groups = 16,352
Mbrs_in: Unq borrowing groups =
Total Repayment = 2,260,660
Savings = 5,521,196
Husler Fund Update:
Update as at 07/16/2023 9:00 AM HF_Personal
Amount disbursed = 33,067,395,968
Total Repayment = 22,514,523,325
Opted in customers = 20,699,178
Savings = 1,654,102,355
Total transactions = 45,822,172
Repeat customers = 7,241,481
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