Hustler Fund Disburses Ksh22 Billion as Digital Lending Surges

The Hustler Fund has disbursed Ksh22 billion to over 2.7 million micro-entrepreneurs since its October 2023 launch, with loan uptake accelerating in Q1 2024. Data from the Central Bank shows 89% of borrowers are aged 18–35, and 62% are women. The digital credit facility—offering loans from Ksh500 to Ksh50,000 via USSD—has achieved a 94% repayment rate, exceeding projections. The fund, backed by a Ksh100 billion government guarantee, partners with 12 fintechs and SACCOs for delivery. Beneficiaries report using funds for inventory, mobile phone repairs, and agri-inputs. However, concerns linger over potential over-indebtedness and data privacy. The Treasury plans to link the fund to vocational training by Q3 2024 to enhance enterprise sustainability.