Ruto Pledges Bigger Hustler Fund Loans as Disbursements Reach Ksh90 Billion

Ruto Pledges Bigger Hustler Fund Loans as Disbursements Reach Ksh90 Billion

NAIROBI, Kenya – President William Ruto has announced plans to expand access to larger loans under the Hustler Fund, signaling the government’s intention to strengthen one of its flagship financial inclusion programmes as total disbursements under the initiative surpass Ksh90 billion.

The President made the announcement on Wednesday, July 29, following a progress briefing on the Financial Inclusion Fund, popularly known as the Hustler Fund, where he reiterated the government’s commitment to increasing affordable credit for millions of Kenyans while rewarding borrowers who have demonstrated responsible repayment habits.

The latest announcement comes as the government seeks to position the fund as a key driver of entrepreneurship, small business growth and financial inclusion, particularly for individuals and micro-enterprises that have historically struggled to access credit from conventional financial institutions.

In a statement released after the meeting, President Ruto said the government would continue allocating resources to the fund to ensure more Kenyans benefit from affordable financing.

“Received a brief on the progress the Financial Inclusion Fund, popularly known as the Hustler Fund, is making in the lives of customers. We will continue resourcing the fund so that Kenyans can continue accessing the most affordable credit in the country,” the President stated.

Although the current loan limits remain in place, the President’s remarks reinforce earlier government plans to introduce enhanced credit products that would allow borrowers with strong repayment histories to qualify for larger financing through banks and other participating financial institutions.

The proposal is expected to create a graduation pathway where borrowers begin with smaller Hustler Fund loans before eventually qualifying for higher-value credit products capable of supporting business expansion.

Alongside the funding announcement, the Hustler Fund unveiled a new initiative dubbed Tukuze Hub, designed to reward disciplined borrowers by equipping them with practical business development skills.

The programme is being implemented through partnerships with Strathmore University and the African Management Institute (AMI) and aims to help entrepreneurs grow sustainable businesses beyond simply accessing affordable loans.

According to officials, selected beneficiaries will receive structured mentorship, financial literacy training, enterprise development support and guidance on identifying new market opportunities.

“The initiative provides capacity building, financial literacy and documentation of successes. It helps selected borrowers identify new opportunities, increase their incomes and build stronger businesses,” a statement from the programme said.

Officials say the initiative reflects a broader shift toward combining financing with entrepreneurial training to improve business survival rates and strengthen long-term economic outcomes.

The President also highlighted another milestone achieved by the programme, revealing that customers have collectively accumulated Ksh7 billion in savings through the platform.

He described the figure as evidence that the programme is not only providing affordable credit but also encouraging a stronger savings culture among borrowers, many of whom had previously operated outside the formal financial sector.

Since its launch in late 2022, the Hustler Fund has been fully digitized, allowing borrowers to apply for loans, receive funds and make repayments entirely through mobile platforms.

The government argues that the digital model has enhanced transparency, reduced operational costs and expanded access to financial services across the country, particularly in rural and underserved communities.

The latest progress report comes at a time when Kenya continues to prioritize financial inclusion as part of its broader economic transformation agenda.

The government has maintained that expanding access to affordable credit will stimulate entrepreneurship, create employment opportunities and reduce reliance on expensive informal lenders.

However, the programme has also faced scrutiny from economists and financial analysts, who have called for continued monitoring of repayment rates, sustainability and long-term funding requirements.

Government officials insist the fund continues to evolve based on borrower needs, with future reforms expected to integrate more financial products while strengthening partnerships with commercial banks and training institutions.

As the programme moves into its next phase, the administration says disciplined borrowers will increasingly benefit from larger financing opportunities, business mentorship and expanded financial services, reinforcing the Hustler Fund’s role as a cornerstone of Kenya’s financial inclusion strategy.

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Ruto Pledges Bigger Hustler Fund Loans as Disbursements Reach Ksh90 Billion