President William Ruto has announced that more than 14 million borrowers of the Hustler Fund will be graded and those who score well will have their limits increased starting from today.
“Every borrower on the Hustler Fund will be assigned a Financial Grade. And you can know that my financial grade is this, therefore I’m good or I need to improve or I need to work on my credit and you will be explained what makes you have a good grade,” said Ruto.
Speaking during the Kenya police Sacco anniversary in Nairobi, the Head of State announced that only six million members who have opted into the programme will access increased credit limits starting today.
“Six million members of the Hustler Fund will from tomorrow (Saturday) be able to access more money than they have accessed and we are going to review the credit limit of every member every four months… If you have been getting Sh500 and you’ve paid two-three times, it won’t be Sh500 from tomorrow. You will be getting Sh1,000, and those at Sh1,000 you will be getting Sh2,000,” the President said.
“We have lend Sh17 billion to this members and for the last two months members of the Hustler Fund have also saved Sh850 million,” President Ruto said.