The Hustler Fund, a brain child of President William Ruto is officially shipping to the mass.
The long-awaited booster to local capital accessibility, the Hustler Fund is reportedly now accessible to all residents of Kenya.
According to President Ruto, the new fund should have zero interest rate and will enable Kenyans to move from the constraints of shylocks and other platforms of debtors.
With nearly 80 days in the office, President William Ruto thus gets to honor his promise to the so-called hustlers by engaging all telecommunications mobile services on disbursing the money to the borrowers.
“This framework would focus on Providing access to the hustler fund for the thousands of retailers on the Twiga-Soko Yetu platform to working capital financing, providing off-take from government-built aggregation centers that will provide small holder farmers with market access across the country.”
William Ruto – The President of Kenya
On his part, Henry Mwenda Rithaa the Chief Executive Officer of Micro and Small enterprise Authority, says the new president-backed fund was a welcome idea for boosting local investments and projects.
Rithaa heads a parastatal that deals with groups and individuals in coordinating and promoting small businesses.
He has welcomed the fund and said that one of the challenges the authority had was funding hence called for all their members to take advantage of the fund.
The fund according to the newly signed charter by Twiga Farmers and the ministry if trade will boost business for farmers across East Africa Farmers and access of products to more than 140,000 customers across Kenya and Uganda.
“Today, we are extremely proud of the official opening of the Twiga distribution center. This world-class
facility will help push our daily handling capacity to 8Million Kgs. This facility will form the backbone of
our supply chain and will be key in enabling our new service, fulfilment by Twiga” said Peter Njonjo, the Twiga’s Chief Executive.
To access the Funds, one needs to dial *254# Hustler Fund with any Kenyan mobile operators’ line in Kenya and a Kenyan National Identity Card.
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