Cooperatives and Micro and Small Enterprise Cabinet Secretary Simon Chelugui on Friday, September 29, revealed the date for Kenyans to start accessing their Huslter Fund savings. 

Speaking during a press briefing in Nairobi, Chelugui stated that Kenyans who have been borrowing and saving in the Hustler Fund will start accessing their savings from November 1.

According to Chelugui, a total of Ksh1.8 billion had been saved since the fund was launched by President William Ruto.

The CS also said that 22 million Kenyans have borrowed a total of Ksh36 billion worth of loans from the fund.

“We have dispersed over Ksh.36 billion to 22 million Kenyans and we have also a saving component of Ksh.1.8 billion,” said CS Chelugui.

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“The first saver will access his 30 percent of the savings on November 1 this year.”

Chelugui encouraged Kenyans to borrow from the fund, adding that the government was committed to removing security features that had earlier discouraged individuals and groups from taking the loans. 

At the same time, he explained that borrowers who repay their loans on time will, in the long run, be recommended to take higher amounts of loans from leading financial institutions in the country. 

“We are pioneering credit scoring; the character of the borrower to understand that if you borrow you will need to pay. And if you borrow frequently, and you repay on time, your credit score will go up,” Chelugui said.

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“In the end, we can now transfer that information to any leading financial institution which can use that information to give you more money.”

He added that the fund was a major pillar in President William Ruto’s bottom-up economic agenda that targets to benefit ordinary citizens.