Browsing: Hustler fund

Savings and Credit Co-operative Societies (SACCOS) in the country are looking to tap into the opportunities availed by the nascent Hustler Fund, having been identified as a key vehicle to disburse loans from the Kshs 50B kitty to Kenyans. Inaugurated by President William Ruto, the Hustler Fund is set to launch phase two of the Program in February which will position SACCOS as pivotal players in the initiative.

SACCOS regulated by the Sacco Societies Regulatory Authority (SASRA) will be able to access between Kshs 10 to 100 million. In a consultative meeting with Co-operatives’ leadership under the Co-operative Alliance of Kenya (CAK), Co-operatives CS Simon Chelugui noted that the Co-operative movement is at the core of Ruto’s administration who sees the movement as instrumental in scaling economic growth.

The CS highlighted that SACCOS play a critical role in inculcating and mobilizing a savings culture among the large swathes of Kenyan …

• President Ruto ran for office partly on a Beijing-skeptic platform in response to claims of Chinese predatory lending to African nations
• The Kenyan President assured American businesses that his administration would create a favourable business climate to encourage foreign direct investment
• Moderna will soon start producing vaccines in Kenya, joining other major American corporations in the East African superpower, like General Electric, Meta, Google, and Microsoft
• He obtained pledges in waste-to-energy solutions, space technology, carbon trading systems and markets.

When Kenya president William Ruto and other African heads of state arrived in Washington, DC, last week for President Biden’s US-Africa Leaders’ Summit, It was Kenya’s chance to rebuild strategic ties with the west.

Along with meetings with companies like Google, Visa and the Rockefeller Foundation in the private sector, as well as general conversations on political relations, security, and economic development, the president of Kenya also made a speech about …