Hustler fund launched

[RV Pundit]

Yes I hope largely it become micro-loan; the rest are problematic; I know they will lend to saccos and such for onward lending; Ruto said for example Njonjo Twiga will get 300M; they will lend to their network; but I guess Twiga will take the risk? Saccos will get say 100M - then they repay 108M at end of the year - and lend it to their members - and take all the hardwork. That is when model start to fail.

I rather all loans are done by computer algorithm - and few people get 10K or 20K loans - but majority 500 Kshs is enough to lift them from poverty- in any case they will be building their pension and savings - 25shs every day - at end of the year is close to 10K savings - 5yrs - that is 50k with gov adding another 25k.That is a lot of money for this people - they can now use it to borrow 300K or four times their savings- if you compound that to 30million people...it becomes enormous!!!!!!

So Ruto in 2027 would have enabled everyone to have savings of close to 100K - with ability to now borrow 400k - that can buy them a nice car and become "middle class"

That would make hustle fund a revolving credit which impact would be marginal at the individual level.

[RV Pundit]

3.5Million registered - that almost half Fuliza - less than 48hrs later.

700M lent.

If this continue - we could hit very good numbers in a week.

Something more than 15m.

[RV Pundit]

In a statement on Saturday, Cooperatives and MSMEs Cabinet Secretary Simon Chelugui said that 5,191,542 customers have opted in for the Hustler Fund.

The total transactions so far stand at Sh2,346,675 and total repayment of Sh48,526,204.

[RV Pundit]

Look like by tomorrow it would have exceeded Fuliza.

[RV Pundit]

The President @WilliamsRuto Hustler Fund  REVOLUTION

Update - 3:00 PM

Amount disbursed= 2,064,100,521 (up from 1.6b at 11am today)

Total Repayment: 75,809,412 ( Up from 49.7m)

Opted in customers= 6,449,726

Total transactions= 3,542,221

Transactions Per Second (TPS) = 283

— -Dennis Itumbi, CBS (@OleItumbi) December 3, 2022

[RV Pundit]

Impressive. I registered yesterday but I have got message.

This one could end up with at least 25 million folks

The President @WilliamsRuto REVOLUTION #HustlerFund

Update as at 12PM - Dec 4th, 2022

Consolidated Statement for all intermediaries

Amount disbursed= 3,143,280,065

Total Repayment: 134,078,932

Registered customers= 9,136,068

Savings= 156,215,612

Total = 5,495,809

— -Dennis Itumbi, CBS (@OleItumbi) December 4, 2022

[Kadudu]

It seems the president has to remind the hustlers to pay back the loans. Sounds not good when he has to say the same thing every second day.

Why should the hustlers pay back this public loan when many do not pay back the private fuliza loans? What can he government do against defaulters apart from stopping them from borrowing again?

https://www.the-star.co.ke/news/2022-12-07-why-you-should-pay-your-hustler-fund-loan-on-time-ruto/#disqus_thread

[RV Pundit]

Gov can simply deduct you money from Mpesa balance.
These gov will eventually do.
So you cant use Mpesa before you repay.

It seems the president has to remind the hustlers to pay back the loans. Sounds not good when he has to say the same thing every second day.

Why should the hustlers pay back this public loan when many do not pay back the private fuliza loans? What can he government do against defaulters apart from stopping them from borrowing again?

https://www.the-star.co.ke/news/2022-12-07-why-you-should-pay-your-hustler-fund-loan-on-time-ruto/#disqus_thread

[Kadudu]

Total = 5,495,809

What does that mean?

The President @WilliamsRuto REVOLUTION #HustlerFund

Update as at 12PM - Dec 4th, 2022

Consolidated Statement for all intermediaries

Amount disbursed= 3,143,280,065

Total Repayment: 134,078,932

Registered customers= 9,136,068

Savings= 156,215,612

Total = 5,495,809

— -Dennis Itumbi, CBS (@OleItumbi) December 4, 2022