President William Ruto has lauded Co-operatives Cabinet Secretary Simon Chelugui for outstanding performance.

Speaking at KICC during the release of the Performance Contracting Report for the 2021-2022 financial year, President Ruto singled out the rollout of the Hustler Fund saying it had done extremely well within a short time.

"I want to commend many public servants who put in their very best and we can see it; the people can feel it, we're witnessing," Ruto said.

"I must commend the ministry responsible for Hustler Fund, in a record 90 days we had a product that seven million Kenyans are borrowing every day and paying," he said.

"We have a product that has given us an opportunity to lend Sh26 billion in a record five months," he stated while lauding the government and private sector players.

According to the latest data, Sh26 billion had been disbursed by 7 am Tuesday while repayment stood at slightly Sh16 billion.

The savings account has hit Sh1.3 billion from 38.6 million transactions.

Some 19.6 million Kenyans have registered with the fund while those who have borrowed more than once are 6.8 million.

The Hustler Fund was launched last November.