Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has issued an update on the disbursement of the Hustler Fund and Hustler Group Loans.
CS Chelugui in a tweet on Friday, June 23 stated that a total of Ksh 26, 792, 600 has been disbursed to some of the groups who applied for the Hustler Group Loans.
He noted that a total of Ksh 166, 555 have been repaid from the groups, and Ksh 1,339, 630 has been saved from the fund.
Chelugui also stated that 229,923 groups have been created out of which 15, 566 of them have been approved. He noted that 12,330 groups are able to borrow from the fund while 3,372 groups are yet to be assigned loan limits.
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The Hustler Group Loan was launched by President William Ruto on June 1 during the Madaraka Day celebrations in Moi Stadium Embu County. The loan enables groups of at least ten people to access loans from Ksh20,000 to Ksh1 million.
On the Hustler Fund, Chelgui stated that a total of Ksh 31, 578, 713, 086 has been disbursed since the fund was launched and a total of Ksh 21.129,607, 152 repaid.
He noted that 20,490,337 customers have applies for the Fund with 7,137, 821 of them being repeat customers.
Total savings stand at Ksh 1,579,556,667 and total transactions in the fund being Ksh 44,301, 713.
