President William Ruto has announced that Kenyans who have been actively saving and borrowing from the Hustler Fund can now begin redeeming their savings from today, Thursday, November 30.
Speaking during the Hustler Fund's one-year anniversary held at Railway Club Grounds in Nairobi on Thursday, November 30, Ruto said that those who wish to access their savings are allowed to withdraw 30 per cent of their savings.
The Head of State also revealed that the remaining 70 per cent of the savings will be kept in a long-term savings account to encourage the savings culture of citizens.
"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.
Ruto highlighted the flexibility offered by the fund noting that individuals have the option to refrain from withdrawing their savings.
He said that the funds will be utilized to boost their borrowing capacity after one month
"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 asserted.
Hustler Fund rescues Kenyans from CRB
Ruto mentioned that the loan program has been a lifeline for 7 million Kenyans previously flagged by the Credit Reference Bureau (CRB).
He further noted that among those 2.2 million individuals, who had previously been negatively listed on CRB are active borrowers within the Hustler Fund.
The president also noted that 2.2 million Kenyans who had previously been negatively listed on CRB are now 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," he said
"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 added.