Kenya Govt Announces Free Cash For 1.2 Million Borrowers

0
1060

Kenya President, William Ruto, has announced that the government will reward over 1.2 million citizens who are regular borrowers of the Hustler Fund.

Speaking during the 1st anniversary of the Hustler Fund in Nairobi on November 30, President Ruto said that one must have borrowed at least five times to qualify for the reward.

He explained that the government would contribute money to the beneficiaries’ savings depending on how much they have saved.

Those with saving of more than Sh6,000 and have borrowed five or more times shall receive Sh3,000 and those with savings of less than Sh6000 with receive matching funds on a ratio of 2:1.

President Ruto also announced that over 1.2 million Kenyans would also have their borrowing limits doubled.

“Because you have been very diligent in paying the current limits, we will increase your limits. Those who have borrowed more than 10 times, we will increase your limit by 100%,” President Ruto announced.

“We have spent Sh50 billion. This program is self-sustaining, with only Sh12 billion . We are going to write a book about this product one day,” the president said.