Ruto Pledges More Funding as Hustler Fund Loans Hit KSh90 Billion
William Ruto presiding a meeting with the Cabinet Secretaries. Photo /PPS
President William Ruto has reaffirmed the government’s commitment to expanding the Financial Inclusion Fund, popularly known as the Hustler Fund, saying additional resources will be allocated to ensure more Kenyans continue accessing affordable credit.
The Head of State made the remarks after receiving a briefing on the fund’s performance, noting that the programme has continued to transform the lives of millions of borrowers through easy access to loans and a growing savings culture.
Figures presented during the briefing indicate that the Hustler Fund has so far disbursed KSh90 billion to more than 28 million borrowers, cementing its position as one of Kenya’s largest digital financial inclusion initiatives since its launch.
“We will continue resourcing the fund so that Kenyans can continue accessing the most affordable credit in the country,” Ruto said.
Government data shows the money has been disbursed through three products: the Personal Loan, Bridge Loan, and Hustler Groups facility. The President added that the fund is currently lending about KSh50 million every day, reflecting sustained demand among Kenyans seeking affordable financing.
Ruto said the latest milestones demonstrate that the programme continues to meet its objective of expanding financial inclusion while offering an alternative to expensive forms of borrowing.
Millions Build Positive Credit Records
The President also highlighted improvements in borrowers’ repayment behaviour, saying millions of Kenyans are steadily building strong credit profiles through responsible use of the fund.
According to Ruto, the Hustler Fund has 10 million repeat customers, an indication that many beneficiaries continue returning to the platform for financial support. He noted that 4.5 million borrowers have earned A and B credit scores after consistently repaying their loans on time.
“Additionally, the Fund has 10 million repeat customers, 4.5 million of whom have good scores of A and B courtesy of their good borrowing and repayment behaviour,” he said.
Ruto noted that the positive repayment records are encouraging because they promote financial discipline while giving borrowers an opportunity to establish credible credit histories. Strong repayment performance also strengthens the long-term sustainability of the programme as more funds become available for lending to other Kenyans.
The President maintained that responsible borrowing remains central to the government’s plan of creating an inclusive financial system that empowers individuals, small businesses and community groups across the country.
Digital Platform Boosts Savings
National savings generated through the programme also continued to rise, according to the latest briefing presented to the President.
Ruto revealed that borrowers have accumulated KSh7 billion in savings, describing the achievement as evidence that the fund is encouraging Kenyans to develop healthier financial habits beyond borrowing.
“The borrowers have saved KSh7 billion, a major achievement in the role the Hustler Fund was meant to play in mobilising national savings,” the President said.
He further praised the programme’s digital infrastructure, saying every stage of the lending process has been fully digitised, from loan applications and approvals to disbursement, repayment and savings.
“I am very proud that these milestones have been achieved purely on a digital platform and the processes have all been digitised,” Ruto added.
Ruto argued that the digital model has enabled millions of Kenyans to access financial services conveniently through their mobile phones while improving efficiency, transparency and accountability in managing the fund.
The latest update comes as the government continues to position the Hustler Fund as a key pillar of its financial inclusion agenda. Continued investment in the programme, officials say, is expected to expand access to affordable credit, strengthen household savings and support the growth of small enterprises that rely on quick and accessible financing.
