Cabinet has approved the legal and institutional framework to anchor the establishment and implementation of the Financial Inclusion Fund (Hustlers Fund).

This follows a Cabinet meeting chaired by President William Ruto on Tuesday, November 15.

According to a statement sent to newsrooms after the meeting, the fund is expected to open up affordable credit facilities and will be structured in Personal Finance, Micro Loans, SME Loans and Start-Ups.

The fund will be launched and rolled out on November 30, 2022, with loan limits being a minimum of Sh500 up to a maximum of Sh50,000 based on the borrower’s credit score. The fund will attract an interest of eight per cent annually.