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President William Ruto now claims that the Hustler Fund has lent Kenyans almost Ksh40 billion out of Ksh12 billion invested in the loan scheme.

Speaking during the Hustler Fund’s one-year anniversary celebrations held at the Railway Club grounds in Nairobi on Thursday, November 30, 2023, Ruto claimed that the amount invested by the government on the funding project has enabled them to lend money to 90 million Kenyans.

He also asserted that 7.7 million members registered on the loan scheme are actively borrowing and repaying their loans.

“Kwa hio billioni 12 tumetumia kama serikali, tumekopesha zaidi ya shilingi billioni 39.5. Out of 12 billion shillings, we have managed to lend almost 40 billion, as Kenyans pay they borrow, we have been able to lend money to 90 million Kenyans. Wakenya millioni saba na laki saba are active members, wanalipa wakikopa explain to me where they will be if not for the Hustler Fund,” he stated.

In the same breath, Ruto claimed that the project launched last year has rescued 7 million Kenyans who had negatively been listed on the Credit Reference Bureau (CRB).

While hailing the loan scheme, Ruto asserted that 2.2 million of those affected are active borrowers on the 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 added that Kenyans have saved a total of Ksh2 billion in the loan scheme since its launch.

He praised the scheme noting that it has instilled a saving culture among Kenyans.

“Kwa iyo 5% ya savings ya kila Mkenya, now we have Ksh2 billion as a savings component of the Hustler Fund,” Ruto said.