The State has allocated KSh5 billion for the Hustler Fund in the 2024/2025 budget.
The fund, managed by the Cooperatives department is aimed at providing cheap mobile loans to Kenyans.
In the present financial year, the Government had allocated KSh10 billion towards the same but it was trimmed in the first supplementary budget.
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The fund is the brainchild of the President William Ruto and it was one of the campaign promise in 2022.
Later President said that to promote inclusion, the Hustler Fund is going include groups such as chamas and Saccos so that access credit, savings, social security, health insurance and other socioeconomic amenities.
The fund is specifically designed to support small-scale traders in the country and is composed of four products namely personal, micro business, SME and start-up loans.
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