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President William Ruto has announced that he will be launching the Hustler fund on December 1, 2022.

The fund, according to him, is aimed at spurring reforms in financial lending, particularly to low- and middle-income Kenyans.

Speaking in Kericho where he was attending an interdenominational prayer and thanksgiving service, the Head of State says the fund will be available for all Kenyans at a repayment interest fee.

“Tarehe moja Desemba tunazindua mpango wa ‘Hustler Fund’ sasa mjipange kwa vyama. Na hakuna pesa ya bure, hii ni pesa ya biashara. Sasa ukipatiwa unarudisha na mpango.

“Ujipange na hustle yako: either chama, sacco, co-operative ama mtu binafsi. Lakini si pesa ya bure, hii ni pesa ya biashara. Tunafanya biashara na interest itakua chini ya 10 per cent per year. Hakuna committee yoyte, jipange na simu yako,” Ruto stated.

Loosely translated as; (On December 1, we will launch the Hustler Fund. But the money is not for free. Once you receive it, you should plan how to start repaying through your various hustles.)

Ruto also affirmed his promise to delist Kenyans from the CRB list due to defaulted loans.

This comes amid looming threats to close shylocks citing heavy interest rates.