The government has reported that the Hustler Fund has disbursed Ksh70 billion to Kenyans since its launch in November 2022, with more than 25 million people having borrowed from the financial inclusion program.
Speaking before the Senate on May 14, 2025, Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya described the uptake of the fund as a major milestone in expanding access to affordable credit for millions of citizens.
“We have introduced a bridging loan of up to Sh150,000 for the two million people who have proven to be good borrowers,” Oparanya said, noting that the fund originally offered loans ranging from Ksh500 to Ksh50,000 at a pro-rated annual interest of 8%, equivalent to a daily rate of 0.002%.
Oparanya revealed that two million borrowers have now advanced to the bridging loan category, allowing them access to significantly higher credit limits.
During a plenary session at Parliament Buildings in Nairobi, the Cabinet Secretary also pointed out the program’s success in reaching women, stating that 48% of all borrowers are women.
“Our Ministry is undertaking outreach and awareness initiatives using a multi-sectoral approach. We are working collaboratively with other ministries, government departments and agencies, development partners, and private sector stakeholders to ensure that women in marginalised and remote areas are well-informed about available funding opportunities,” he told lawmakers.
In addition to lending, the Hustler Fund integrates a mandatory savings component. Each borrower automatically contributes 5% of their loan to savings — 70% goes to long-term savings and 30% to short-term savings, helping build a safety net for the future.
Despite the program’s widespread uptake, Oparanya admitted that the initiative continues to grapple with key challenges, notably limited funding and high default rates. However, he did not disclose how much of the Ksh70 billion disbursed so far remains unpaid.
