President William Ruto has hailed the Hustler Fund as Kenya’s largest financial inclusion initiative since independence, injecting over Sh80 billion into the hands of seven million citizens and helping millions rebuild their previously blacklisted credit records.
Speaking during the State of the Nation address on Thursday, he said the National Youth Opportunities and Transformation Agenda (NYOTA) is set to empower 820,000 unemployed young people through apprenticeships, enterprise grants, digital training, and structured work placements, opening new pathways for income and opportunity.
“For decades, access to affordable credit trapped millions in frustration,” Ruto noted. “Without collateral, there was no loans. For the millions blacklisted, every door of opportunity was shut.” He said the cycle of financial exclusion has now been broken. “As promised, we broke that cycle,” he said.
The Hustler Fund has already disbursed more than Sh80 billion, benefiting seven million Kenyans directly. “The seven million once blacklisted Kenyans have since repaired their credit,” Ruto said.
He added that three million small businesses, previously excluded from conventional loans, are now formally banked for the first time, while a further two million Kenyans have become frequent borrowers, reflecting renewed confidence and mobility in the credit market.
The President highlighted the rapid uptake of the Hustler Fund Bridge Facility, which provides slightly larger loans to expanding enterprises. “Today, through the Hustler Fund Bridge Facility, 800,000 entrepreneurs are accessing up to Sh150,000 each without collateral to expand and grow their businesses,” he said.
However, Ruto noted that credit alone is not enough to tackle youth unemployment and the lack of entrepreneurial opportunities. “Many young people do not lack ideas. They lack opportunity,” he said, explaining the rationale behind NYOTA, which he described as “one of the most ambitious youth empowerment programs in our history.”
The programme will uplift 820,000 unemployed youth over five years through apprenticeships, skills certification, enterprise grants, digital training, and structured support. “When fully implemented, NYOTA will have placed 90,000 young people into work or enterprise, certified 20,000 youth in various technical and vocational skills, and capitalized 110,000 businesses,” he said.
In addition, 190,000 savers are expected to benefit from a structured savings model, while 600,000 more will gain capacity to participate in government procurement.
Ruto tied both programmes to his wider economic transformation agenda, including digital expansion.
“Our digital transformation agenda has become one of the most powerful engines of renewal,” he said, noting the rollout of 24,000 kilometres of fibre, nearly 1,500 public Wi-Fi sites, and 300 digital innovation hubs, with 400 more on the way.
“These combined efforts signal a new national direction centred on empowerment, innovation, and equitable opportunity,” he said. “This program is far more than housing. It is a national empowerment engine, advancing equity, dignity and sustainable development.”
