Business Tips & Tools — Africa

All you need to know about the Hustler Fund

The Hustler fund introduced by the Kenyan government administration has sparked conversation amongst many Kenyans.

What is the Hustler Fund?

The Hustler Fund is a loan initiative program introduced by the Kenyan Government to fund Individuals, groups (chamas), Small businesses or cooperatives for an interest rate of 8% per annum and a repayment period of 14 days.

The government will set aside Ksh 50 billion per annum for the purpose of this program which has already been approved by the cabinet in November 2022 and launched in November 30th 2022.

The three types of loans offered by the Hustler Fund

There are three types of loans that will be given out from the Hustler’s fund depending on the recipient.

  1. Loans to Individuals ranging from Ksh 500- Ksh 50,000 
  2. Loans to groups (chamas)  ranging from Ksh 50,000- Ksh 250,000
  3. Loans to SMEs or cooperatives whose maximum limit will be announced as the program is being rolled out. 

What are the eligibility requirements for the Hustler Fund?

To be qualified you must posses the following requirements:

  • Be a Kenyan Citizen or a permanent resident
  • Must be 18 years older and possess a Kenyan Identification Card 
  • Must have a valid Certificate of Good conduct
  • Be members of a finance institution like SACCOs for group applicants 
  • Be registered in a Mobile Network Operator like Safaricom or Airtel for individual applicants for more than 90 days.
  • Sign a nondisclosure agreement to serve a jail term for anyone who defaults the loans and fails to repay within 6 months. 

How do I apply for the Hustler Fund?

Individuals who are looking to apply for the fund must be registered in a Mobile Network Operator like Safaricom or Airtel. The government will use platforms such as Mpesa to disburse the funds to credible individual applicants. 

Groups who are looking to apply for the Hustler Fund must first be registered in a finance institution such as SACCOs or banks.

To get started simply dial *254# and follow the procedure.

How to register for the Hustler Fund

Before one applies for the Hustler Fund, one must be successfully registered unto the platform. To be registered successfully, one must pass all the eligibility requirements and must be credit worthy. To register, follow these simple steps:

  • Dial *254#
  • Accept the terms and conditions to register for the fund
  • Enter you Mobile Money pin (MPESA, Airtel Money, T-Kash)
  • Follow the next easy steps then you will receive a message notifying you if you are successfully registered.

How to apply for the Hustler Fund using USSD code

After you receive a message notifying you that you are successfully registered, follow these simple steps to apply for a loan.

  • Dial *254#
  • Select the loan request option to view your limit, the interest and loan period
  • Enter the loan amount you want to borrow and confirm the details
  • Enter your Mobile Money pin (MPESA, Airtel Money, T-Kash)
  • After that you will receive a message with information about the loan you have just applied for.
Last updated
June 12, 2024
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