NAIROBI, Kenya, June 15 – The government has invested a total of Sh11 billion since it first unveiled the Hustler Fund.
The National Treasury Njuguna Ndungu said while reading the 2023-24 financial year budget at the National Assembly.
“So far, 16.07 million, of which 7.1 million are repeat customers, have accessed the fund”, said the CS, adding that 30.8 billion shillings have been borrowed from the fund.
The hustler fund, which was launched by President William Ruto, intends to address unemployment and the lack of possibilities for low-income workers through accessible credit.
Its inclusion in the budget therefore informs a stepped-up effort by the government to provide loans targeted at the MSME sector.
The large number of registered customers in the hustler fund database points to the dire need for capital among Kenyans, a situation the government is set to grapple with even as it unveils its maiden budget.
