Written by on June 1, 2023

By Whitney Akunga

A second product of the Financial Inclusion Fund, also known as the Hustler Fund has been launched during Kenya’s 60th Madaraka Day.

In his Madaraka Day address to the nation, President William Ruto said the fund is aimed at facilitating people access funding through groups and will usher the collective-driven competitive market enterprise to the online domain.

“To promote inclusion, the Hustler Fund is going to deploy groups such as Chamas and Saccos overcome exclusion and barriers to participation in credit, savings, social security, health insurance and other socio-economic amenities,” the President said.

This is how we will use policy and technological innovation to mainstream our way of life. We are committed to leveraging Fintech in ensuring that no one is left behind in the financial and entrepreneurial inclusivity revolution,” he added.

The Head of State expressed gratitude in the success of the first product of the Hustler Fund the individual loans which he said has transformed it from a predatory ecosystem to a more responsible one.

“As a result, Kenya’s digital economy has received a tremendous shot in the arm as demonstrated by reports that Safaricom alone has enrolled at least 2 million new subscribers into its financial ecosystem courtesy of the Fund,” he said.

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