President Ruto's Speech on Hustler Fund

The Hustler Fund is a program for digital financial inclusion that aims to increase Kenyan individuals' and MSMEs' (micro, small, and medium-sized enterprises) access to responsible financing.

They say the Fund is significant because it offers personal, micro, small, and medium-sized enterprises (MSMEs) access to responsible financing by developing and implementing bottom-of-the-pyramid financial services and products that are suitable for the unserved and underserved population that are affordable, accessible, and of high quality. These products include credit, savings, insurance, pension, and investment options.

The Hustler Fund continues to report an increasing number of borrowers, according to President William Ruto when he was giving his speech during the Jamhuri celebrations that were held on December 12.

Following the debut on November 30, 2022, President William Ruto said that over 15.4 million Kenyans had signed up for the service in the previous 12 days.

On Monday, December 12, at the 59th Jamhuri Day celebrations,  President Ruto stated that more than Ksh 7.54 billion had been borrowed.

“The Hustler Fund has received over 15.4 million subscribers in 12 days, borrowing over KSh7.5 billion. Savings have increased to Ksh 400 million. We are well on track to a billion shilling in the next few days, — without committees, without secretariat," said Ruto.

President Ruto confirmed that Kenyans have been servicing the loan, with repayment amounting to Ksh.2 billion. "And the good news is that today Ksh1.2 billion has already been repaid. It is clear it has provided a platform for millions of Kenyans who have been looking for ways to save," he said.

The head of state acknowledged that Kenyans value borrowing and loan repayment contrary to the rhetoric of sceptics.