The hustler group loan launched, How to apply via USSD.
Speaking during the 60th Madaraka holiday celebrations at Embu County, President William Ruto revealed that Kenya kwanza has launched the second product of Hustler fund.
He stated,” It is now my honour and pleasure to introduce and officially launch the second product of Hustler Fund, the Hustler Group Loan.”
According to the president, Kenyans will be able to access the loan as group, ranging from Ksh20,000 to Ksh1 million.
He stated,” I am glad that this launch of the group loan product is taking place against the backdrop of the phenomenal success of the Hustler Fund Personal Loan product. I expect this product will encounter even greater appetite from the market.”
The head of state explained that through this new product, groups will overcome exclusion and barriers to participate in credit, savings, social security, health insurance and other socioeconomic amenities.
He explained that this been made possible because the hustler fund has been nothing but a success ever since it was launched.
He stated,”Not a single shilling has been stolen through corruption, and borrowers do not need to know anyone, bribe any official or go through complex bureaucratic procedures to access the Hustler Fund. They only need a device, a little airtime and a few minutes, and they can get money wherever they are.”
“On its way to becoming the biggest financial institution by the number of borrowers and active loans effectively, the Hustler Fund also turned around the country’s fintech, transforming it from a predatory ecosystem to a more responsible one,” he added.
The head of state further explained what good hustler fund has done to the citizens of Kenya.
He stated,”This engagement with the business community inspired the creation of the Financial Inclusion Fund or the Hustler Fund. To eliminate the financial cost, delay, and bureaucracy entailed in complying, the facility employs the latest fintech, powered by Kenyan telecommunications corporations.”
“The Hustler Fund also re-engineered the idea of collateral by deploying the borrower’s credit score as effective security,” he added.
Application process for the fund
Through a USSD code*254# that will lead the user to a menu.
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