RUTO DEFENDS HUSTLER FUND, BLASTS CRITICS

President William Ruto has strongly defended the Hustler Fund, dismissing its critics as “merchants of doom” who are opposed to empowering ordinary Kenyans.
Speaking during a development tour, the President said the fund has so far disbursed over Ksh 72 billion to 26 million Kenyans, mobilizing Ksh 5 billion in savings. He insisted the initiative has significantly improved financial inclusion among low-income earners.
“The Hustler Fund has a repayment rate of 83.3 percent—almost at par with the banking sector. Those opposing it are merchants of doom who don't want to see the common mwananchi progress,” Ruto stated.
The President’s remarks come days after the Kenya Human Rights Commission (KHRC) released a damning report titled “Failing the Hustlers,” which claimed the fund has a default rate of 68% and is economically unsustainable. The report further alleged that borrowers are trapped in cycles of debt due to low loan amounts and short repayment periods.
Ruto dismissed the report as misleading, with Kenya Kwanza-allied lawmakers also accusing KHRC of using flawed methodology and pushing political propaganda.
The Head of State urged Kenyans to ignore the criticism and take advantage of the fund to grow their businesses and improve livelihoods.