Cabinet Secretary, Ministry of Co-operatives & Micro, Small and Medium Enterprises( MSMEs) confirmed the disbursement of some Ksh32 billion since the inception of the Hustler Fund, Personal Product. The service was launched about seven months ago. Out of the aforementioned sum, Ksh22.5 billion has been repaid from some 46 million transactions. The savings account stands at Sh1.6 billion. According to data, 22 million Kenyans have opted in since the inception of the Financial Inclusion Fund.
For the group’s product which H.E President William Ruto launched on Madaraka Day, 340, 363 groups have been registered with some 402, 172 members pending approval. The number of groups cleared to borrow now stands at 27, 880. Some sh110 million has been disbursed to the groups so far while Sh5.4 million has been saved. BETA is going to unlock financial independence for the people at the bottom of the pyramid and we’re determined to ensure that the vision of our President is achieved within the timeframes.
Below is the Hustler Fund Update as of Sunday, 16th July 2023.
Groups Total groups created = 344,978
Members pending approval = 408,371
Approved Members = 817,884
Total Complete Groups = 33,919
Groups with Limit (Can borrow) = 28,144
Complete groups to be assigned limits = 12,086
Loan requests pending member approval = 2,269
Amount disbursed = 110,423,924
Unq borrowing groups = 16,352
Total Repayment = 2,260,660
Savings = 5,521,196
Husler Fund Update: Update as at 07/16/2023 9:00 AM HF_
Personal Amount disbursed = 33,067,395,968
Total Repayment = 22,514,523,325
Opted in customers = 20,699,178
Savings = 1,654,102,355
Total transactions = 45,822,172
Repeat customers = 7,241,481