Kenyan Entrepreneurs to Access Funds with Hustler Group Loan
By Adedapo Adesanya
Kenyan entrepreneurs will access more loans with the launch of Hustler Group Loan, the second product of the Financial Inclusion Fund, an initiative of the President William Ruto administration.
President Ruto said this would boost the hustler spirit and deepen financial inclusion in the country since the Fund has witnessed 42.5 million transactions through which 20.2 million Kenyans have accessed about Sh30 billion.
He also noted that enterprises will now have access to affordable and accessible financing to spur their growth.
The birth of the Hustler Group Loan follows the launch of the Hustler Fund early in the year; out of the Sh30 billion, Sh19.7 billion has been repaid.
“Not a single shilling has been stolen through corruption,“ President Ruto insisted.
He said he was keen on ensuring that businesses access affordable credit.
“That is the route to ensuring that enterprises grow, generate more earnings and create more jobs for millions of underprivileged Kenyans,” the President said on Thursday, June 1, in Moi Stadium Embu during the Madaraka Day celebrations.
Comoros President Azali Assoumani, Deputy President Rigathi Gachagua, Prime Cabinet Secretary Musalia Mudavadi, Cabinet Secretaries, Embu Governor Cecily Mbarire, MPs, Former President of Niger Issoufou Mahamadou, among others, were present.
The Kenyan President also said he was keen on enhancing food production through subsidising production.
He said five million farmers have registered and benefited from the government’s subsidised fertilisers.
“As a result of these interventions, farmers have been able to plant 200,000 additional acres of food this year,” he said.
On health, the president explained that the government would reform the National Health Insurance Fund to meet the needs of Kenyans.
He noted that he was committed to delivering Universal Health Coverage.
He said the government has collaborated with counties to recruit community health promoters to deepen this goal.
“These promoters will facilitate early detection of conditions for referral to further attention.”
On his part, the Deputy President said the government had initiated practical measures that would put more money in the people’s pockets.
Mr Gachagua said he would lead town hall meetings with farmers to develop sustainable plans to uplift them.