A total of 346, 766 groups have been created two months since the Hustler Fund's second product was launched.
Out of this, only 29, 169 have been assigned limits and are eligible to borrow while 7,517 are complete but yet to be given limits.
Statistics released by Cooperatives and MSMEs Cabinet Secretary Simon Chelugui indicate that a total of Sh118 million has so far been disbursed with total repayments hitting 7,392,323.
Some 5,917,059 have been saved from the loan repaid by the various groups.
President William Ruto launched the fund targeting chamas and Saccos on June 1 during the Madaraka Day celebrations in Embu.
This was exactly seven months after the Hustler fund loan aimed at promoting financial inclusion was introduced.
"I am delighted to announce that during today’s celebrations, I shall be launching the second product of the Financial Inclusion Fund, which is aimed at facilitating people's access to funding through groups," Ruto said.
Ruto stated that the fund was to help the groups overcome exclusion and barriers to participation in credit, savings, social security, health insurance and other socioeconomic amenities.
The data further shows that there are 864, 390 members who have registered and their applications approved whereas 432, 698 have their applications pending.
In total, there are 36, 352 complete groups and 2, 409 others with loan requests pending approval of members.
Unique borrowing groups currently stand at 17, 141.
To access the funding, members are required to dial *254# on their phones and follow the prompts.
Creating a group required a minimum of 10 members including three officials- a chairperson, treasurer or secretary can create a group.
Meanwhile, on the personal loan, total disbursement stands at Sh34 billion.
Total repayment is at Sh23.9 billion while Sh1,726,177,195 has been saved.
