President William Ruto has hit out at reports calling for the abolition of the Hustler Fund, defending the fund as one that has been largely beneficial to Small, Medium, and Micro Enterprises (SMMEs).
Ruto spoke during a private sector roundtable on Wednesday, August 6, where he listed some of the benefits of the fund, which was launched in 2022 with an initial capital of Ksh50 billion.
Amid criticism from the "Failing the Hustlers" report by the Kenya Human Rights Commission (KHRC), Ruto reaffirmed that although the fund has its flaws, it significantly benefits Kenyans because it remains one of the most reliable indicators of their credit ratings. "Today, under the Hustler Fund, your credit behaviour becomes your collateral.
It becomes what licenses you to borrow the next bigger amount of money," President Ruto explained.
