- Kenyans who have subscribed to Safaricom, Airtel and Telekom will be required to dial the short code to access the loans.
- To access the funds, a borrower will use *254#.
A message purporting that only people who voted for President William Ruto will receive the Hustler Fund is FAKE.
A Twitter user by the name of Edwin, posted a screenshot of the message, asking why he received such a message.
The alleged message read: “Dear customer, your request to join Hustler Fund was unsuccessful because you voted for Azimio. Kindly note that we are currently giving priority to our loyal supporters. Thank you”.
The truth is, every Kenyan is eligible for the loan, regardless of political affiliation.
President William Ruto during the launch of the Hustler Fund said, as long as anyone is in need of the fund, they can get it without any intermediary, adding that those listed on Credit Reference Bureau (CRB) will also get the funds.
"We have approximately 8 million Kenyans that cannot access credit because of their bad credit rating or history. The Hustler’s Fund will give you a second chance... Even those who had been sent away by lending apps, this is your chance to redeem yourself,” he said.
To access the funds, a borrower will use *254#.
Kenyans who have subscribed to Safaricom, Airtel and Telekom will be required to dial the short code to access the loans.
Cabinet Secretary for Co-operatives and SMEs Development Simon Chelugui had said there will be no registration required for the Huster Fund.
If a customer will not have paid the loans within the required time, they will be added an extra 15 days, before the increment of the interest rate.
The borrowers who default will also have their Hustler Fund account frozen.
"After more than 30 days of default, the borrower loses all the credit scores accumulated and the Hustler Fund account is frozen," he said.
Ruto said loan defaulters will not be listed on the CRB, as they will have another chance of reborrowing.
"The defaulter can repay the loan at once or in instalments and begin borrowing again after full repayment," he said.
This fact check was published by The Star with support from Code for Africa’s PesaCheck and African Fact-Checking Alliance.