Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The enthusiasm by small rural based enterprises in Embu County in embracing the group based Hustlers’ Fund loans is bound to give stiff competition to Saccos and banks for customers, former Commissioner of Cooperatives Geoffrey Njang’ombe has warned. The launch of the second phase of the Hustler Fund will see registered groups qualified for loans…
President William Ruto has officially launched the second phase of the Financial Inclusion Fund (Hustler Fund) that targets registered groups. Speaking in Embu town during the 60th Madaraka Day celebrations, the president said the groups can qualify for loans up to millions of shillings. He pointed out that the groups will be used as collaterals…
The National Treasury has now revealed that savings made from every 5 per cent deduction on Hustler Fund loan will be wired to the Kenya National Entrepreneurs Savings Trust (KNEST), which was created to oversee the running of the savings scheme that targets over 16 million marginalized informal sector workers. It comes after the creation…
The first Loan Product under the Fund (Personal Loan) will be rolled-out by the end of November 2022. The draft regulations of the Fund has pointed out that Saccos can also apply for loans from the Fund as financial intermediaries for on-lending to a business person or micro, small and medium enterprises. By Hezron Roy …
By Obegi Malack obegimalack@gmail.com The government’s Financial Inclusion Fund commonly known as Hustlers Fund program which is set to be launched at the end of this month will not require any official registration. Co-operative and Micro, Small, and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has clarified that Kenyans seeking to access the funding will…
By Roy Hezron Stakeholders in the cooperative sector have applauded the government’s move to create a full-fledged ministry for Co-operatives and Small and Medium Enterprises (SMEs) development stating that the sector more so Savings and Credit Cooperatives (Saccos) is best placed to roll out the ‘Hustler Fund’. The Co-operative Bank of Kenya Group Managing Director…
