FUND'S SECOND ANNIVERSARY

H.E the President William Ruto presided over the Financial Inclusion Fund (Hustler Fund) second anniversary held on 10th December 2014 at the Kenyatta International Convention Centre (KICC).

The Bridge loan product was launched as part of the celebration, the Loan is designed for the 1.4M customers who their limits will be enhanced upto 3x of their Personal loan with adjusted repayment period of 30 days.

Good repeat customers with applauding Hustler Fund credit score, have been graded from A1(Best) to C3(Poor) as determined by the service providers. By rewarding responsible borrowing, encouraging savings, and providing a footpath for defaulters to improve, the new product (Bridge Loan) advocates for comprehensive financial inclusion for optimal long-term financial stability.

The model and pursuance of the Bridge Loan is based on insights from beneficiary behaviour. Speaking during the ceremony, President Ruto emphasized the fund’s achievements over the last two years in availing affordable credit to 24.6M Kenyans who have borrowed Kes. 60 Billion with 1.5M of them being active borrowers every 45 days.

Accompanying the President were Cabinet Secretaries for:- Co-operatives and MSMEs Development Hon. FCPA Wycliffe Ambetsa Oparanya, Social Protection & Labour Alfred Mutua, Principal Secretary State Department for MSMEs Susan Mang’eni,Principal Secretary for Cooperatives Patrick Kilemi,CEO Hustler Fund Madam Elizabeth Nkukuu, MSEA Board Chairman Mr. James Mureu, MSEA DG Mr. Henry Rithaa, CEO Youth Fund Mr. Josiah Moriasi, CEO Uwezo Fund Mr. Lengapiani Ag CEO KIE Mr. Mativo among other dignitaries.