Despite the claims of KHRC, the Hustler Fund thrives with significant success

In less than three years, the Hustler Fund has made a significant impact on the lives of 26 million Kenyans, disbursing over Sh72 billion in loans. Launched in November 2022 with a startup capital of Sh50 billion, the fund was designed to empower low-cadre Kenyans, providing affordable credit to those locked out of the formal financial system.

The Hustler Fund has not only transformed lives with its initial capital but has also demonstrated its effectiveness with loans as small as Sh500. This initiative has boosted investments in sectors like agriculture, MSMEs, healthcare, and housing, enabling 26 million Kenyans with good credit ratings to access bank loans without strict regulations.

The Hustler Fund has a recovery rate of 83.3%, rivaling the formal banking sector's repayment rate of 83.6%. It has provided working capital to entrepreneurs, demonstrating that small businesses can thrive with the right support. Currently, the fund is used by two million Kenyans daily.

However, the Hustler Fund has faced criticism. Some argue that it is a political tool and a fulfillment of campaign promises, while others claim it is a failure. Yet, it is argued that it is time to stop politicizing initiatives aimed at transforming livelihoods. The recent report by the Kenya Human Rights Commission (KHRC) on the Hustler Fund has been criticized for lacking facts. The KHRC, in turn, has been described as "merchants of doom and negativity" who resort to fabricating narratives when facts do not serve their agenda.

Despite the criticism, the Hustler Fund has mobilized more than Sh5 billion in savings and has boosted investments in various sectors. It has enabled 26 million Kenyans to access bank loans and has a high recovery rate, showing its effectiveness.

Mr Kaino, who works at the Presidential Communication Service, has been a strong advocate for the Hustler Fund. He emphasizes that the fund is focused on ensuring that Kenyans at the bottom of the pyramid grow their businesses, not just on providing loans.

In conclusion, the Hustler Fund has been a game-changer for millions of Kenyans, providing them with the financial support they need to grow their businesses and improve their livelihoods. While it has faced criticism, its impact on the lives of Kenyans cannot be denied.

Despite the claims of KHRC, the Hustler Fund thrives with significant success