Wamuzi News Ke
President William Ruto has delivered a forceful rebuke to detractors of the “Hustler Fund,” declaring the initiative a lifeline for millions and dismissing its critics as out of touch elitists who undermine grassroots progress.
Speaking at State House with grassroots leaders from Turkana County, Ruto revealed that since its launch in November 2022, the fund has dispersed a staggering Sh72 billion to ordinary Kenyans—reaching mama mbogas, boda boda riders, jua kali artisans and micro-business owners across all corners of the country.
Ruto’s message was blunt: “Some wealthy voices sipping tea in air-conditioned hotels mock a Sh1,000 loan—but they’re blind to the realities of those hungry for opportunity.” He underscored that even the smallest loans, however seemingly insignificant, empower a micro-entrepreneur to purchase stock and launch into business.
The president also stressed the remarkable scale of the Hustler Fund’s reach: nearly 26 million Kenyans have registered accounts, dwarfing the customer base of any commercial bank. And in a pointed contrast to traditional lenders, Ruto highlighted the fund’s flexibility and understanding: “No one has been auctioned for defaulting, because we believe that one day you’ll pay.”
Yet, the Hustler Fund faces serious scrutiny. Rights groups and watchdogs have flagged concerns over high default rates, financial losses, and governance transparency. Ruto countered these claims, accusing critics of peddling intentional distortions and fear—adding, “We will not be swayed by merchants of doom and negativity.”
As efforts to extend financial inclusion intensify, Ruto’s remarks make clear that the Hustler Fund is not just a policy—it is a political showdown over how Kenyans are empowered to compete and thrive.
Stephen Musungu
