Listen to This Article Enhance your reading experience by listening to this article.

President William Ruto on Thursday hailed the Hustler Fund stating that the loan scheme has rescued 7 million Kenyans who had been listed on the Credit Reference Bureau (CRB).

Speaking during the project’s first-year anniversary celebrations held at the Railway Club Grounds in Nairobi on Thursday, November 30, 2023, Ruto claimed that the project has provided a lifeline to Kenyans who had been negatively listed on CRB.

He went on to state that out of those affected, 2.2 million are currently active borrowers on Hustler Fund.

“The 7 million Kenyans who were condemned in the CRB ecosystem today we have repaired their credit and we have made sure that they are out of CRB. 2.2 million Kenyans whose credit was repaired from CRB today are active borrowers on Hustler Fund.

“Kumaanisha kwamba we were right that these people were condemned unheard, it means they were condemned not because of anything they had done but because of financial difficulty,” Ruto stated.

The president equally announced that Kenyans who have been saving and borrowing on the loan scheme can withdraw their savings from today.

While making the announcement, Ruto underscored that the remaining 70 per cent will be kept in a long-term savings account to improve the country’s saving culture.

“Those who have been saving, today have been allowed to withdraw 30% of their savings to conduct their businesses. 70% will be kept in your long-term savings. We want to improve the saving culture of Kenyans,” Ruto stated.

At the same time, Ruto asserted that individuals who refrain from withdrawing their savings will have an added advantage of an increased borrowing limit.

“And if you do not withdraw, after one month, we will use it to increase your borrowing limit. It’s your choice. Vile utaamua, tutaheshimu uamuzi wako,” Ruto added.