President William Ruto has defended the government’s Hustler Fund, saying the programme has transformed access to affordable credit and helped millions of Kenyans rebuild their financial standing after being listed by Credit Reference Bureaus (CRBs).
Speaking during an interview with comedian Dr. King’ori, the President said the Financial Inclusion Fund has given borrowers a second chance by providing affordable loans while encouraging responsible repayment.
Millions have improved their credit standing
According to Ruto, about seven million Kenyans had previously been listed by CRBs, limiting their ability to access credit from commercial banks and other financial institutions.
He said the government used the Hustler Fund as part of a broader credit rehabilitation programme that has already enabled two million borrowers to improve their credit profiles and exit the CRB listing.
“I removed all those people from the CRB, gave them a second chance to borrow and pay. Two million have repaired their credit rating. They are off the CRB list,” Ruto said.
The President added that nearly 960,000 beneficiaries have progressed through the programme and now qualify for loans of up to KSh150,000 due to their positive repayment records.
Affordable credit through the Hustler Fund
The government launched the Hustler Fund to expand access to affordable credit for individuals and small businesses that often struggle to secure loans from conventional lenders.
Under the programme, borrowers can initially access loans ranging from KSh100 to KSh50,000 through personal accounts.
Those who consistently repay their loans on time become eligible for higher borrowing limits, including loans of up to KSh150,000 and, in some cases, KSh300,000 through higher-tier lending products such as the Bridge Loan.
Ruto said the programme is changing how financial institutions assess borrowers by placing greater emphasis on repayment behaviour rather than traditional forms of collateral.
“They now have a credit score. They have been borrowing and paying consistently. Collateral is not necessarily a title deed, payslip or a logbook. It can be your behaviour. If you borrow and pay, that becomes your collateral,” he said.
Fund continues to expand
The President acknowledged that the fund has experienced high default rates but maintained that it has achieved significant milestones since its launch.
Speaking during the 2026 World MSME Day celebrations on June 27, Ruto said the government has disbursed nearly KSh90 billion to more than 27 million Kenyans while mobilising over KSh6 billion in savings.
He said the initiative has improved financial inclusion by giving millions of citizens access to formal credit for the first time.
Reducing dependence on borrowing
Ruto also reiterated his administration’s commitment to reducing public borrowing by increasing domestic resource mobilisation to finance government programmes.
He said projects such as the Affordable Housing Programme and Universal Health Coverage are increasingly being supported through locally generated resources instead of external borrowing.
“All I am doing now is to reduce borrowing. We are trying to see how we can raise resources rather than borrow. We have KSh1.2 trillion worth of contracts on housing and markets with zero borrowing,” he said.
According to the Central Bank of Kenya (CBK), Kenya’s domestic debt stood at approximately KSh7.19 trillion by the end of April 2026, with a significant share borrowed through Treasury bills and bonds held by the banking sector.
