Ruto announces Sh5 billion hustler fund boost before year-end

President William Ruto has pledged to inject an additional Sh5 billion into the Hustler Fund by the end of 2026, promising to expand access to loans for Kenyans and businesses as he highlighted his administration’s economic achievements during this year’s Mashujaa Day celebrations.

Speaking at the national celebrations in Eldoret, Uasin Gishu County, on Tuesday, October 20, Ruto said the government would increase funding for the initiative, which he said had already advanced Sh98 billion in loans without requiring borrowers to provide collateral.

The President said more than 10 million Kenyans were regular borrowers under the programme, presenting it as part of the government’s efforts to widen access to affordable credit for people who have difficulty obtaining loans through conventional financial institutions.

“By the end of this year, we will inject an additional Ksh5 billion into the Hustler Fund to expand access to credit and support more businesses,” he said.

The planned allocation is expected to increase the fund’s lending capacity, although Ruto did not state how many additional borrowers would benefit from the money or whether the government intended to change the existing loan terms.

Ruto cites growth in stock market value

Beyond the Hustler Fund, Ruto used his Mashujaa Day address to point to changes in Kenya’s financial markets and investment levels, saying the country had made progress in strengthening its economy since 2022.

He reported that the value of the Nairobi Securities Exchange had grown from Sh2 trillion in 2022 to Sh4.2 trillion, a development he presented as evidence of growth in the country’s capital markets.

The President also said foreign direct investment had increased from Sh194 billion in 2022 to Sh413 billion in 2025, while describing Kenya as Africa’s seventh-largest economy.

Ruto linked these developments to government measures aimed at stabilising the exchange rate, keeping inflation under control, improving access to credit and reforming capital markets.

“Over the last four years, we have grown our economy, stabilized our exchange rate, brought inflation under control, expanded access to credit and reformed our capital markets,” Ruto said.

His remarks placed access to financing alongside broader economic indicators as he sought to demonstrate the gains made under his administration.

Hustler Fund seeks to widen access to loans

Ruto maintained that the Hustler Fund had helped extend credit to Kenyans who had previously struggled to access formal financial services.

“Through the Hustler Fund, more than 10 million Kenyans are regular borrowers, and 98 billion has been advanced without collateral,” he said.

The programme is intended to provide loans without requiring borrowers to present collateral, making it an important part of the government's stated efforts to support small businesses and people seeking financing.

The additional Sh5 billion pledge signals the administration’s intention to commit more resources to the initiative before the end of the year.

However, the President did not provide further details on the expected number of new beneficiaries or indicate whether the extra funding would lead to changes in the amounts available to borrowers.

The President also highlighted changes in the agricultural sector, saying the government had registered 8.9 million farmers and taken action against middlemen he accused of exploiting producers.

“We have undertaken far-reaching reforms in the agricultural sector, registering 8.9 million farmers, eliminating exploitative middlemen, and substantially.”

The available excerpt of his speech ends before the statement is completed.

Agriculture featured among the areas Ruto cited in presenting his administration’s economic record, alongside financial market growth, foreign investment and efforts to make credit more accessible.

While the President pointed to these developments as signs of progress, their broader impact will depend on how they affect the daily lives of Kenyans, including employment opportunities, household incomes, prices paid to farmers and the cost of goods and services.

The additional funding for the Hustler Fund is expected to support the government’s efforts to extend lending, but the extent of its benefits will become clearer as details on its implementation and reach emerge.