Hustler Fund sustainability in jeopardy over underfunding as govt mulls Sh6bn loan write-off

Hustler Fund Faces Sh6 Billion Loss Amid Mass Loan Defaults

The government’s flagship Hustler Fund, launched to provide low-interest loans to low-income Kenyans and promote financial inclusion, is facing a major financial crisis after it emerged that Sh6 billion in disbursed loans may never be recovered. Appearing before the National Assembly’s Committee on Trade, Industry and Cooperatives, Principal Secretary for Micro, Small and Medium Enterprises […] The post Hustler Fund Faces Sh6 Billion Loss Amid M…

Hustler Fund sustainability in jeopardy over underfunding as govt mulls Sh6bn loan write-off

NAIROBI, Kenya May 21 – The delivery of President William Ruto’s flagship Hustler Fund, officially known as the Financial Inclusion Fund, hangs in the balance after the National Treasury allocated only Sh1 billion in the budget estimates for the upcoming financial year, far below the Sh6 billion requested. The move threatens to derail the Fund’s mission to support millions of micro, small, and medium enterprises (MSMEs) across the country which …