Co-op Bank says it will leverage its relationships in the co-operative movement to support the rollout of the State’s Sh50 billion hustler fund, which will offer soft loans to small enterprises.
President William Ruto’s administration has committed to providing loans to small firms such as motorcycle transport operators and women-owned ventures at single-digit interest rates without collateral.
Most of the advances are set to be distributed through savings and credit co-operative societies (saccos), which have complementary and synergistic ties to Co-op bank. The hustler fund is expected to be implemented in the current quarter ending December.
https://www.businessdailyafrica.com/bd/corporate/companies/co-op-bank-eyes-big-role-in-sh50bn-hustler-fund-3988528
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