KHRC Report Reveals Hustler Fund Loses Ksh340 for Every Ksh500 Borrowed

For every Ksh500 borrowed from President William Ruto's pet project, the Hustler Fund, Ksh340 has been lost, according to a new report from the Kenya Human Rights Commission (KHRC).

The Hustler Fund, launched in November 2022 with an initial capital of Ksh50 billion, was tipped to be a game changer by providing affordable credit to millions of low-income Kenyans under the Kenya Kwanza administration's "bottom-up" economic plan.

However, according to KNRC's report, the Hustler Fund has been anything but beneficial, with both Kenyans and the government incurring financial losses in different forms.

The report, dubbed ''Failing the Hustlers,'' highlights the financial mechanics of the fund, which have been faulted as extremely flawed, largely because of the alarming default rate from Kenyans.