How to apply for the Hustler fund on your Phone

The Kenya Kwanza administration under President William Ruto has today launched the Hustler Fund.

According to major network telcos, Hustler Fund borrowers should dial *254# to access the Hustler fund.

After the short code's announcement by President Ruto, Kenyans with subscriptions to Safaricom, Airtel, and Telkom will have to dial it 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.

Chelugui says borrowers will use an SMS short code that will take them to a certain menu, leading all the way to the application of the loan. 

"We urge members of the public to disregard all forms of communications inviting them to register for funds on a website or via a  phone number," he said. 

He added that hustlers will only need their phones, as there will be no intermediaries for the process. 

"The money will be accessed via phone numbers and respective networks," he said. 

The CS also announced an establishment of a call centre that will respond to issues and questions of borrowers.

He added that the centre will be active once the fund is launched. 

Through the Hustler Fund, every time one borrows an amount, Chelugui says 5% of the amount will go to a saving scheme, where the money adds interest.

"For every Sh2 saved, the government will add one shilling."