H.E the President presided over the second-anniversary celebrations of the Financial Inclusion Fund (Hustler Fund) held on 10th December 2014 at the Kenyatta International Convention Centre (KICC).
The event also doubled up as the unveiling of a new Hustler Fund product, the Bridge Loan, designed for the Hustler Fund Personal Loan customers who have been graduated to a higher limit and longer repayment period of 30 days due to their good borrowing behaviour.
Good repeat borrowers with a favourable Hustler rating, as determined by the Hustler Fund stakeholders, are eligible for the Bridge Loan. By rewarding responsible borrowing, encouraging savings, and providing a pathway for defaulters to improve, the Bridge Loan supports broader financial inclusion and fosters long-term financial stability.
The design and implementation of the Bridge Loan are based on insights from Hustler Fund borrower behaviour. These data-driven insights will continue to shape the product and inform future financial solutions. All eligible customers can access the Bridge Loan by dialing *254# or through the Hustler Fund mini app on the mobile money app.
Highlights from the event.
Speaking during the ceremony, President Ruto emphasized the fund’s achievements over the last two years in availing affordable credit to 24.6M Kenyans who have borrowed Kes. 60 Billion with 1.5M of them being active borrowers every 45 days.
Thereafter, H.E. the President hosted a town hall meeting discussing jobs and labour mobility for the youth and the forward-looking opportunities under the Hustler Fund Bridge Loan among other flagship government projects.
Accompanying the President were Cabinet Secretary for Co-operatives and MSMEs Development Hon. FCPA Wycliffe Ambetsa Oparanya, Principal Secretary State Department for MSMEs Susan Mang’eni, MSEA Board led by the Chairman Mr. James Mureu, MSEA Director General Mr. Henry Rithaa, CEO Hustler Fund Madam Elizabeth Nkukuu, CEO Youth Fund Mr. Josiah Moriasi, CEO Uwezo Fund Mr. Lengapiani Ag CEO KIE Mr. Mativo among other dignitaries.
