President William Ruto will today launch the Hustler Fund which he presented during the presidential election campaign as one of his key agendas meant to revive the economy and boost the humble livelihoods.
The President is set to make public the Sh50 billion annual Hustlers Fund kitty that will be disbursed on Thursday after the launch at Green Park in Nairobi today.
Ruto’s objective with the funds is to create jobs, strengthen the economy and empower investors both domestically and internationally.
The funds are available to groups, individuals, small enterprises and co-operatives and will be offered at a one-digit interest rate of 8 percent per annum.
The Cabinet initially announced that the loans will range from KSh500 to KSh50,000, but Ruto clarified later and said the KSh50,000 maximum was set for individual borrowers.
The Hustler Fund loans will be accessible through commercial banks, microfinance institutions and Saccos.
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