The Hustler Fund went live in December last year. President William Ruto launched the digital financial initiative on November 30th which saw Kenyans borrow an average of Sh17 million an hour on its first day.
The fund seeks to provide loans to small businesses in the country that have always struggled to access financing from local banks. It is designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs).
As of April, this year, Kenyans had borrowed more than Ksh26.4 billion from the Hustler Fund.
President William Ruto has also revealed plans to increase the Hustler Fund credit facility to a maximum of Sh200,000 beginning June.
There are different ways Kenyans can apply for the fund. If you’re a Telkom Kenya subscriber, here is what you need to do.
It is important to first note that you have to be a Kenyan citizen with a valid ID and a valid registered Telkom SIM card. You must also have been on the Telkom network for at least 90 days.
Once you confirm this simply dial *254# and you will be prompted to choose a loan product. Select your preferred product and this will give you your loan-allocated limit. Select the amount you want to borrow, enter your mobile money PIN, and confirm the request.
As the new week begins, remember you can boost your Biashara with #HustlerFund. All you need is:
1) To be a Kenyan citizen with a valid ID (18+ years of age)
2) Have a valid registered SIM card and have been on the network for at least 90 days.
Simply dial *254# NOW and OPT-IN pic.twitter.com/Fw58VrvXNG
— Telkom Kenya (@TelkomKenya) May 7, 2023
Alternatively, you can also access the Hustler Fund via the T-kash Platform.