President William Ruto has announced that loans from the financial inclusion fund, popularly known as the Hustlers Fund,will be obtained through online platforms.
“The product is going to be seamless, you will not need any committee, you do not need to know anybody and the product will be online just like M-Pesa,” .
“I know some of you had made arrangements to form a committee for disbursing Hustler funds.
“Sorry I will disappoint you there will be no Hustler Fund committee,” he added.
Ruto says that he has already launched talks with Mobile Network Operators (MNOs) and service providers to enroll the programme online.
“We are working with our MNOs and technology providers and all the mobile operators including Safaricom, Airtel, Telcom,and that is the platform this money is going to be disbursed,” said Ruto.
“Have no doubt that nobody will be left behind.
“We have also made it possible to borrow using an ordinary phone where we have a USSD code where people can easily access it.”
President Ruto says the fund will first be acessible to individual borrowers then Saccos
At least 10 million borrowers are being targeted in the first round of the Hustler Fund takeoff.