Hustler Fund — government-backed financial inclusion scheme providing credit to small businesses and previously blacklisted borrowers, with Sh90 billion distributed to 28 million borrowers as of 2026.
… financing,” he said.The programme is expected to be rolled out across all counties, bringing together agencies including the Micro and Small Enterprises Authority (MSEA), Uwezo Fund, Youth Enterprise Development Fund, Women Enterprise Fund, Kenya Industrial Estates, Hustler Fund …
… Among the funds and levies created or restructured under President Ruto’s administration are the Affordable Housing Levy Fund, Social Health Insurance Fund, Hustler Fund, National Infrastructure Fund and Uwezo Fund. …
… She added that the Hustler Fund had disbursed Ksh.90 billion to 28 million borrowers, and urged women to form groups to improve their access to economic opportunities. …
… Sifuna accused Ruto of misleading Kenyans over the Hustler Fund, claiming that the programme had initially been presented as money that would be freely given to help small businesses. …
… The President defended his administration's economic agenda, arguing that programmes associated with his 2022 campaign, including the Hustler Fund and the Bottom-Up Economic Transformation Agenda, were not merely political slogans but policy plans. …
… Uongo wazi.” The Nairobi Senator further criticised the Hustler Fund, arguing that Ruto had campaigned on the promise of giving young people money to start businesses but later introduced the programme as a loan facility. …
… Gachagua also turned his criticism to the Hustler Fund, one of Ruto’s flagship programmes aimed at providing affordable credit to low-income Kenyans and small businesses. …
NAIROBI, Kenya, Aug 11 — Former Deputy President Rigathi Gachagua has accused President William Ruto of presiding over an “imperial presidency” and described the government’s flagship Hustler Fund as a “lost cause” in a scathing four-year assessment of the Kenya Kwanza administra …
The government has launched a nationwide initiative, coordinated across more than a dozen agencies, to expand access to finance, skills and markets for millions of small businesses. The drive, which brings together 15 sector experts to guide entrepreneurs, aims to address information gaps and help small-scale traders access available financing and market opportunities across all counties.
The government has launched a nationwide initiative, coordinated across more than a dozen agencies, to expand access to finance, skills and markets for millions of small businesses. The drive, which brings together 15 sector experts to guide entrepreneurs, aims to address information gaps and help small-scale traders access available financing and market opportunities across all counties.
The Controller of Budget Margaret Nyakang'o has revealed that her office lacks visibility on how billions collected through government funds and levies are being spent, raising questions about accountability for public funds held outside the National Exchequer.
Kenya is deepening its capital markets to attract domestic and regional investment into infrastructure and businesses as an alternative to external borrowing, with the inaugural Africa Capital Week in Nairobi drawing over 500 delegates from more than 20 African countries. The forum focused on increasing investment through African capital markets and creating opportunities for institutional investors to finance long-term projects, as Kenya grapples with public debt of about Sh12 trillion and a debt-to-GDP ratio of around 69.5 per cent as of February 2026.
First Lady Rachel Ruto has hailed Kirinyaga Governor Anne Waiguru for promoting women's leadership and economic empowerment, citing the county's election of a woman governor as an example of opportunities when women are given leadership roles. The First Lady spoke during a Joyful Women Organization empowerment forum in Kirinyaga, urging women to pursue entrepreneurship, investment and leadership opportunities.
Cooperatives Cabinet Secretary Wycliffe Oparanya has urged Kenyans to embrace saccos as a reliable way to improve livelihoods, citing their success globally and noting low uptake in Kenya. He told Members of Shirikiana Saccos that the cooperative movement encourages saving culture and offers more affordable lending conditions than financial institutions.
Nairobi Senator Edwin Sifuna has accused President William Ruto of obtaining power through "false pretences" over broken campaign promises made ahead of the 2022 election, saying he should face consequences. Sifuna, rallying support for the Linda Mwananchi movement, cited unfulfilled pledges on the Hustler Fund and said the opposition's 2027 campaign slogan will be "William Ruto, One Term."
President William Ruto dismissed his political rivals, saying he trusts Kenyan voters to distinguish between political rhetoric and concrete policy plans ahead of the upcoming general elections. He challenged opponents to offer policy alternatives instead of relying on name-calling and slogans.
Nairobi Senator Edwin Sifuna has renewed attacks on President William Ruto, declaring him "the biggest problem in this country" and calling for a new administration in the 2027 General Election. Sifuna accused Ruto of misleading Kenyans with unfulfilled 2022 campaign promises built on slogans like "hustler" and "bottom-up."
Former Deputy President Rigathi Gachagua has accused President William Ruto's administration of presiding over a growing cost-of-living crisis, alleging that the government "steals" about Sh3 billion from Kenyans every day while borrowing an average of Sh3.5 billion per day. Gachagua claimed Kenya's public debt has risen from Sh8.66 trillion in August 2022 to Sh13.02 trillion, with every Kenyan carrying a debt burden of about Sh221,898.
Former Deputy President Rigathi Gachagua delivered a four-year assessment of President William Ruto's administration, accusing him of presiding over an "imperial presidency" and betraying 2022 election promises, and characterizing the Hustler Fund as a "lost cause" despite reports of Sh87 billion disbursed to 28 million people.
The government has launched Tukuze Hub, a business support programme partnering with Strathmore University and African Management Institute to provide training, financial literacy and business development to selected Hustler Fund borrowers with good repayment records. The initiative aims to improve loan repayment and strengthen micro-enterprises amid an estimated Sh12.5 billion in defaulted loans, representing a default rate of about 15 to 20 percent of the Sh90 billion distributed to 28 million borrowers.
President William Ruto delivered a national address on July 30 urging Kenya to pursue a new long-term economic path beyond Vision 2030 and touting his administration's economic record; the speech drew swift skepticism from opposition figures, political leaders, and Kenyans online, many citing high living costs and heavy taxation.
Public Health Principal Secretary Mary Muthoni has encouraged young people to avoid being used for divisive politics and instead take advantage of government empowerment programmes such as the Hustler Fund, Nyota Fund and Micro and Small Enterprises programmes to start and grow businesses.
Cabinet Secretary Geoffrey Ruku has called on beneficiaries of the National Youth Opportunities Towards Advancement (NYOTA) Project to invest grants wisely, as the government disburses Sh154m in the second phase to youth from Embu, Tharaka Nithi, and Meru counties. The programme aims to tackle youth unemployment by providing startup capital for young entrepreneurs.
The Government will disburse the second tranche of the National Youth Opportunities Towards Advancement (NYOTA) business start-up capital grant on Friday, with 122,000 young people aged 18–29 receiving KSh25,000 each across 18 nationwide venues. Combined with an earlier disbursement of KSh25,000, each beneficiary will have received a total of KSh50,000 in business support grants.
President William Ruto criticized leaders using abusive language to stir ethnic divisions and urged Kenyans to judge politicians by their development record rather than divisive rhetoric. Speaking at a church service in Embu, Ruto said his administration will not tolerate tribal politics and ruled out collaborating with leaders who rely on tribalism, insults, and hate speech.
President William Ruto stated that the Financial Inclusion Fund (Hustler Fund) has provided cheap credit to borrowers blacklisted by Credit Reference Bureaus, with 2 million people's credit ratings significantly improved and 960,000 having graduated to borrowing up to Ksh.150,000.
President William Ruto has renewed criticism of Kenya's commercial banks, accusing them of denying small businesses access to affordable credit despite posting record profits, and challenged lenders to rethink their business models, citing the government-backed Hustler Fund as proof that profitable lending is possible at single-digit interest rates.
President William Ruto called on commercial banks to increase lending to micro, small and medium enterprises, stating that MSMEs contribute about 40 per cent of Kenya's economy but remain largely excluded from formal financial services. He noted that despite commercial banks lending about Ksh.1 trillion to the sector over the past three years, this remains insufficient for small businesses to flourish.
President William Ruto challenged Kenya's banking sector to increase lending to micro, small and medium enterprises, saying small businesses contribute nearly 40 per cent of Kenya's economy but remain underfunded despite a KSh3 trillion financing gap. He noted that although commercial banks have extended about KSh1 trillion in credit to the sector over the last three years, this remains insufficient to support MSMEs' growth potential.
Treasury Cabinet Secretary John Mbadi delivered the 2026-27 budget speech at Parliament, addressing cost of living, employment, and growth, while highlighting achievements in economic growth, agriculture, health, and housing. The opinion piece critiques the budget's presentation and notes missing indicators such as productivity.
The National Treasury has disbursed Sh87 billion through the Hustler Fund since its 2022 launch, reaching 28 million accounts and extending formal financial services to millions previously lacking credit access. Treasury Cabinet Secretary John Mbadi said the fund has brought millions into the formal financial ecosystem, including 4.5 million Kenyans who were previously listed on credit reference bureaus and are now building formal credit records.
Lawmakers on the Departmental Committee on Finance and National Planning raised concerns about the Hustler Fund's reliance on taxpayer funding rather than operating as a self-sustaining revolving facility. The State Department for MSMEs Development has disbursed KSh14.4 billion from the fund and is seeking KSh11.3 billion for NYOTA Programme expansion and KSh5 billion to address liquidity challenges, but MPs urged stronger financial literacy training before releasing additional funds.
Kenya created 822,100 new jobs in 2025, but nearly nine in ten are in the informal sector, and the share of formal employment has fallen from 18.5 per cent in 2010 to 15.5 per cent in 2024. Research shows 65 per cent of Kenyan graduates work in jobs below their education level, while youth unemployment stood at 11.9 per cent in 2024, reflecting a structural gap between academic achievement and stable employment.