Audit unearths irregularities to the top President William Ruto’s flagship project by Kenya Kwanza administration dubbed Hustler Fund. The government’s allocation of money for the Hustler Fund is not fully traceable. Hustlers’ forced savings on hustlers disappeared, according to sources.
In 2023, the Hustler Fund, a government initiative to provide affordable loans, disbursed a minimum of Ksh. 49 billion and allocated Ksh. 4 billion.
Over the 2024–25 financial year, the government had allocated Sh5 billion to the Financial Inclusion Fund, popularly known as the Hustler Fund, even as Kenyans struggled to access funds from the kitty.
This is in addition to the over Sh25 billion that the Kenya Kwanza administration has allocated to the fund since its inception.
The current regime notes that mainstream lenders have neglected ordinary Kenyans or exploited them with exorbitant interest rates through mobile phone credit apps.
Reports suggest that top management at Hustler Fund is diverting funds from the fund at an accelerated pace. The government’s allocation of approximately Sh2 billion remains untraceable to the fund.
Half of the money goes into a private, unknown course, making long-term savings impossible to account for.
The Treasury cannot trace over Sh10 billion in accumulated savings from the hustlers, according to sources.
This year, the government will disburse Sh4 billion to the fund to expand its services. It is unclear what will happen to the hustlers’ missing money.