President William Ruto on Wednesday defended the Hustler Fund against mounting criticism, dismissing claims that the state-backed microloan program is failing.
Speaking during the Presidential Private Sector Roundtable at Ole Sereni Hotel in Nairobi, Ruto accused unnamed non-governmental organisations (NGOs) of deliberately misrepresenting the achievement of the scheme since it launched in late 2022.
On Monday this week, the Kenya Human Rights Commission (KHRC) called for the termination of the Fund, citing a reported 68 percent default rate and arguing the initiative is unsustainable. "Our critics- the naysayers, the perpetual pessimists, the chorus that never sees anything working in Kenya- would have you believe that the Hustler Fund is a total failure," said Ruto. "Those same critics are spreading fear and despondency by falsely claiming that the fund has a 60 per cent default rate.
That is a deliberate distortion of facts.
