On Wednesday, November 30, President William Ruto launched the Husler Fund, which was one of his main campaign pledges.
In the first phase of the newly launched fund, Kenyans can get loans ranging from KSh 500 to KSh 50,000.
The loan limit will automatically be determined by the Hfund Mini-app.
During the launch, Ruto, his deputy, Rigathi Gachagua, and Prime Cabinet Secretary Musalia Mudavadi registered with the fund and demonstrated how the new loan app works.
On checking his loan limit, Ruto said the app had given him KSh 2,200, with Gachagua’s limit being KSh 1,600.
The former Amani National Congress party leader had his loan limit set at KSh 2,800.
Earlier, Ruto defended the low limits offered through the fund, saying that even the majority of those listed on CRB owed lenders less than KSh 1000.
“That 500 or 1000 shillings is important, I want you to know there are close to between 10 and 15 million Kenyans on CRB and 80% of those Kenyans who are on CRB it is because of KSh 1,000, majority less than a thousand shillings,” Ruto said.