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Public encouraged to utilise Hustler Fund

Hustler fund loan borrowing scheme has awarded the best-performing utilizer. This was the first prize-giving function which came 12 months after it was launched back in November 2022.

Harrison Kenga, the awarded citizen, received an impromptu congratulatory call a few weeks back from the President, with words of encouragement as he was awarded a brand new Tuk Tuk and also a state house invitation in Nairobi.

Kenga, the Hustler Fund Initiative award winner was jubilant for emerging the best among the utilizers of the loan scheme, having been a regular borrower from a limit of as low as Sh800 without defaulting and reaching a maximum loan limit of Sh50,000.

“The hustler fund loan initiative is true, very economical, and easy to pay,” said Kenga.

The Hustler Fund initiative was a positive economic gesture by the President to help medium and small-scale entrepreneurs get fast and reliable loans at low interest rates to finance their hustles.

The award ceremony was graced by the Cabinet Secretary for Co-operatives and Micro-Small and Medium Enterprises (SMEs) Simon Chelugui in Mombasa who encouraged entrepreneurs to fully utilize the hustler fund pointing out that there is an increment in loan limit as well as a saving scheme with a lower interest rate of 8 percent.

“The government took this initiative to cut the cost of borrowing which was estimated at 365 percent annually”, said CS Chelugui.

In addition to the President’s tuk-tuk award, CS Chelugui donated Sh50,000 for Kenga’s tuk-tuk fuel for showing resilience in the Hustler fund loan initiative.

“I want to take this opportunity to thank the President for blessing me with this award, the hustler fund has been very helpful to me”, added Kenga.

Entrepreneurs or anyone can borrow hustler fund loans from a low limit of 500 shillings and a maximum of 50,000 shillings upon timely loan reimbursement or without defaulting.

By Fatma Said  

 

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