HOAX: This Post Offering to Increase the Hustler Fund Limit Is Fraudulent

By Harriet Ogayo

A key highlight in the Hustler Fund website is that the limit can only be raised through continuous use of the fund and timely loan repayment.

This Facebook post offering to increase the Hustler Fund limit is a HOAX.

The post reads: “DON’T BE SCAMMED..HER Is PAYMENT AFTER SERVICE,hurstler limit upgrade UPTO 60,000 (sic)”.

The author lists various amounts for the fund limit and accompanying charges, which are allegedly to be paid after the service. Interested users are then asked to send a message to an agent on WhatsApp via a phone number provided with the words ‘HURSTLER LIMIT (sic)’.

Similar posts have also been shared here and here.

The Hustler Fund, also known as the Financial Inclusion Fund, is part of the Kenyan government’s plan to support its citizens with affordable loan products.

President William Ruto launched the Hustler Fund Personal Loan product on 30 November 2022. The product enables borrowers to access between KSh500 and KSh50,000 through a USSD code and disbursed via the borrower’s mobile wallet. The repayment period is 14 days.

Based on this, the post we are fact-checking has misleading information as it claims users can have their limits increased to KSh60,000.

The Personal Loan product limit is capped at KSh50,000. The rest of the Hustler Fund products will be launched between January and May 2023.

Besides, the information on the Hustler Fund website indicates that the only way to increase one’s limit is to use the fund and pay the loan on time. The borrower’s credit history will also be assessed from successive applications and repayment and will determine subsequent qualifications for the product.

The website also contains answers to other frequently asked questions about the Hustler Fund.

PesaCheck has looked into a Facebook post offering to increase the Hustler Fund limit and found it to be a HOAX.

This post is part of an ongoing series of PesaCheck fact-checks examining content marked as potential misinformation on Facebook and other social media platforms.

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