The Hustler Fund has provided financial support to nearly 28 million Kenyans and issued loans worth almost Ksh94 billion since its establishment, Principal Secretary for Micro, Small and Medium Enterprises Development Susan Mang’eni has said. The digital lending programme has also generated close to Ksh7 billion in mandatory and voluntary savings, with voluntary savings nearing Ksh900 million. Launched less than 100 days after President William Ruto took office, the Hustler Fund is expected to mark its fourth anniversary in November. Fund broadens access to affordable credit Mang’eni described the Hustler Fund as a “credit nursery” and “credit school” aimed at bringing Kenyans onto a shared credit platform while improving access to affordable financing. She explained that borrowers can demonstrate their ability to repay through their borrowing and repayment patterns, allowing them to build digital credit profiles. According to the PS, these records can help Kenyans develop a formal financial history and improve their chances of accessing other forms of credit within the formal financial sector. PS urges accurate assessment of loan defaults Mang’eni also responded to claims made in political circles that many Hustler Fund borrowers fail to repay their loans. She called for proper data and monitoring by the Ministry to establish the actual default rate and provide a more accurate assessment of the programme’s repayment performance. She noted that repayment capacity may vary depending on the amount borrowed, giving smaller loans such as Ksh500 and Ksh1,000 as examples. The PS said repayment performance should be assessed using comprehensive borrower data rather than political claims made during public gatherings. Mang’eni champions informal sector workers Mang’eni said the Hustler Fund forms part of the government’s broader efforts to support Kenyans earning a living in the informal economy. She argued that all forms of legitimate work should be valued and supported, saying jobs that may be considered undesirable can still provide sustainable livelihoods when properly supported. She said the government wants to recognise Kenyans’ right to engage in economic activities based on their skills and capabilities. Mang’eni pointed to small-scale traders, including those selling goods such as peanuts in markets and along streets, saying these businesses provide essential income for households and help meet expenses such as rent and school fees. She urged authorities to support such traders rather than confiscating their goods or subjecting them to harassment. The PS added that confrontations between hawkers and county enforcement officers, commonly known as “kanjo,” had declined in Nairobi. She attributed the improvement to efforts to establish policies that recognise small-scale traders as an important component of Kenya’s economy. Mang’eni said the Hustler Fund remains a key government initiative aimed at expanding access to affordable credit, strengthening financial inclusion and helping Kenyans build credible financial records.