President William Ruto has announced that Hustler Fund users with good records will have their loan limits increased.
Speaking during the Hustler Fund First Anniversary Celebrations, in Nairobi on Thursday, Ruto said those who have borrowed from the Hustler Fund 10 times and cleared their loans will have their limit increased by 100 percent.
The Head of State said those who have borrowed from the platform five times will have their limit increased by 60 percent.
For those who have been loaned two times and paid their obligations, President Ruto said they will qualify for a 40 per cent increase in their loan limit.
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"I have heard many Kenyans asking for a limit increase. Today we are increasing that limit. 1.2 million Kenyans will today have their limit increased. Those who have borrowed more than 10 times will have their loan limits increased by 100 percent," Ruto said.
"One who has borrowed between five to 10 percent will have their limit increased by 60 percent. For those who have borrowed between two to five times will have their limit increased by 40 percent."
Ruto said with the removal of Kenyans from CRB, more Kenyans have been able to get an avenue to borrow from the Hustler Fund.
He said the Hutstler Fund platform is now self-sustaining and that with Sh12 billion injected into the fund has been enough to facilitate its running.
"The 7 million Kenyans who were condemned under the CRB have been absolved; they are now accessing credit from the Hustler fund, where there's no condemnation if they don't pay on time. This product (Hustler Fund) is sustaining itself with only Ksh. 12B. One day, we are going to write a book about it," he said.
