President William Ruto has defended the government’s Hustler Fund, saying it has helped millions of Kenyans rebuild their credit records and regain access to formal borrowing after years of being locked out by Credit Reference Bureaus (CRBs).
Speaking during an interview with comedian and media personality Dr King’ori, the President said the fund was designed to offer affordable loans while helping borrowers establish a positive repayment history.
“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. Another 960,000 people have even graduated and are borrowing up to Ksh.150,000,” President Ruto said.
The Head of State said that about seven million Kenyans had previously been affected by negative credit listings. According to him, two million borrowers have since improved their credit standing through consistent repayment under the government-backed lending programme.
Borrowers rewarded for good repayment
The Hustler Fund offers personal loans ranging from Ksh.100 to Ksh.50,000. Borrowers who maintain a strong repayment record can qualify for higher lending limits of up to Ksh.150,000 or Ksh.300,000 through advanced loan products.
President Ruto argued that access to credit should not depend solely on traditional forms of security such as land titles, vehicle logbooks or payslips.
“They now have a credit score. They have been borrowing for the last one year and have been paying. Collateral is not necessarily a title deed, payslip or a logbook. It can be your behaviour. If you borrow and pay, it becomes your logbook,” he said.
He added that improved credit scores have enabled many borrowers to qualify for larger loans from commercial banks after demonstrating responsible repayment.
Default concerns persist despite growth
The programme has also faced criticism over rising default rates, raising concerns about the long-term sustainability of the lending model.
Despite those concerns, the President said the fund has continued to expand. Speaking during the 2026 World MSME Day celebrations at the Kenyatta International Convention Centre on June 27, he said nearly Ksh.90 billion had been disbursed to more than 27 million Kenyans, while over Ksh.6 billion had been accumulated in savings through the scheme.
Ruto links fund to wider economic strategy
President Ruto also linked the programme to the government’s wider economic strategy of reducing reliance on borrowing to finance development.
“All I am doing now is to reduce borrowing. We are trying to see how we can raise resources rather than borrow. We have Ksh.1.2 trillion contracts on housing and markets with zero borrowing,” he said.
According to the latest figures from the Central Bank of Kenya, Kenya’s domestic debt stood at Ksh.7.19 trillion at the end of April 2026, equivalent to 38.8 per cent of the country’s Gross Domestic Product. Of that amount, Ksh.2.57 trillion had been raised from the banking sector through Treasury bills and Treasury bonds.
The Hustler Fund remains one of the government’s flagship financial inclusion programmes. While supporters credit it with widening access to affordable credit, critics maintain that improving repayment rates will be key to ensuring its long-term success.
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