President William Ruto has defended the Hustler Fund following calls for its abolition, insisting the program has made a difference for low-income Kenyans. Speaking to grassroots leaders at the State House on September 2, 2025, Ruto highlighted that the fund has already disbursed over KSh 72 billion in small loans ranging from KSh 500 to KSh 150,000.
Why did President Ruto defend the Hustler Fund?
The president was responding to a report by the Kenya Human Rights Commission (KHRC) that recommended the fund’s shutdown. The report, titled Failing the Hustlers, described the Hustler Fund as “structurally unsound, economically unsustainable, and politically manipulated.” It further argued that the initiative had failed to meet its goal of empowering low-income earners.
Ruto pushed back strongly against the criticism. “Pale Hustler Fund, we have lend KSh 72 billion… Pesa kidogo, KSh 500, 1,000, 5,000, 10,000, mpaka KSh 150,000,” he said. He dismissed KHRC’s conclusions, arguing they came from wealthy elites detached from the realities of ordinary Kenyans. “Kuna watu wengine, ma bwenyenye wajeuri, wanakaa hapa Serena… Mtu ameenda Serena, amekunywa chai ya KSh 2,000, alafu anasema, kwani KSh 1,000 itasaidia mtu na nini? Hajui KSh 1,000 inaweza kununua stock ya mtu ya one day, afanye biashara na asonge mbele,” he added.
Are there irregularities at the Hustler Fund?
Concerns over transparency have grown after Auditor General Nancy Gathungu revealed that KSh 8 billion was unaccounted for in the 2022/23 financial year. According to her report, the money was linked to counterpart funding that had not been released by the Treasury. Principal Secretary for MSME Development Susan Mang’eni later clarified that the allocation was eventually used once the fund’s savings scheme was launched in November 2023.
The Auditor General also flagged anomalies in the 2023/24 fiscal year, including loans to minors and unborn individuals. Findings showed KSh 31.1 million was loaned to 42,981 unborn persons, while 1,186 minors under 18 received KSh 681,395. Other concerns included understated interest income, irregular loan closures, duplication of accounts, and high levels of non-performing loans.
While Ruto maintains that the fund is giving Kenyans a lifeline, the flagged irregularities have raised questions about sustainability and credibility.
By Lucky Anyanje
