Why 26 Million Kenyans Won’t Stop Borrowing from Hustler Fund

Three years after its launch, Kenya’s Hustler Fund has handed out more than Ksh72 billion to over 26 million people, helping everyday workers start or grow small businesses.

President William Ruto calls the fund a game-changer for those shut out of traditional banks, with five billion shillings saved and millions building credit records for the first time.

Speaking at a Nairobi business meeting on August 6, 2025, he shared how a local moneylender, commonly known as  “shylock”, at Maili Tisa market in Eldoret inspired the whole idea.

“He shows up with 10,000 shillings, lends out 100 in the morning, and folks pay back 110 by evening. There are Kenyans paying 10% interest daily; we built this to help micro-businesses grow and beat that trap,” he said.

At the time, the government made the decision to clear the credit records of over 7 million blacklisted Kenyans, unlocking fresh chances.

Now, the fund rewards 650,000 good payers, who also earned spots for bigger bridging loans up to Ksh150,000.

Also Read: How Kenyans Can Raise Hustler Fund Limit from Ksh500 to Ksh150,000

How Kenyans Benefit from the Hustler Fund 

The easy-to-use phone service delivers quick, no-collateral loans at low rates, focusing on market sellers, riders, and youth.

However, the real proof is the voices of those who have used it.

In Nyeri County, sausage seller Moses Kamau recounted in a past interview with KNA, the tough days before the fund arrived.

He borrowed his first 1,000-shilling loan to buy more meat and spices when customers lined up. Later, his roadside spot ran smoothly, hiring two helpers along the way.

Like him, nearly seven million borrowers have come back for more, seeing their loan

“It was very hard for me to get cheap money back then. The fund let me restock and keep things going,” Kamau said. 

Still in Nyeri, businesswoman Njambi Muthoni, who stocks phone bits and home goods, started with Ksh500.

On-time paybacks pushed her to 1,000 shillings, and she was hoping to grow her limit enough to use the funds to expand her business. 

On the other hand, Susan Mang’eni, head of small business growth, also reported borrowing from the fund and quickly grew her limit to Ksh50,000.

Also Read: Ruto Explains How Eldoret Shylock Inspired Hustler Fund

Ruto’s Phone Call with Beneficiary

In November 2023, Ruto gifted a Mombasa-based businessman Harrison Kenga a new Tuk Tuk to expand his operations during the Hustler Fund’s first anniversary celebrations. 

The president revealed that Kenga had already accessed more than Ksh700,000 through the fund and saved Ksh35,730 through the compulsory savings deductions.

To encourage more borrowers, Ruto announced that anyone who had saved at least Ksh6,000 would receive a government top-up of Ksh3,000 under a 2:1 matching plan.

Countless times, Ruto has brushed off doubters, saying the fund’s reach affects many banks.

However, alh some Kenyans miss payments, there are countless success stories that have began with from the Hustler Fund.

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