In Summary

  • This according to Treasury CS Professor Njuguna Ndung’u will boost hustlers across the country
  • Njuguna also requested Sh300 million for SMEs in the manufacturing sector, Sh182.8 million for the women’s enterprise fund

Treasury has set aside Ksh. 10Billion for the National Hustler Fund in the 2023/24 Budget.

This according to Treasury CS Professor Njuguna Ndung’u will boost hustlers across the country.

Prof Ndung’u says that the Ksh. 10 Billion allocated to Hustler Fund will help the Small and Micro-Medium Enterprises develop.

“This allocation will inevitably guarantee access to credit for the hustlers and SMEs and therefore accord them the investment for their rightful contribution to nation building,” said Ndung’u.

Njuguna also requested Sh300 million for SMEs in the manufacturing sector, Sh182.8 million for the women’s enterprise fund, Sh175 million for the Youth Enterprise and Development Fund, and Sh192 million to Uwezo Fund

The second phase of the Hustler’s Fund was launched on June 1 when President William Ruto presided over the Madaraka day celebrations in Embu.

“I am sure that this will be very good news to my good friend Shiko from Ruaka, who, like many informal business entrepreneurs, was ready for this innovation even before we launched the first Hustler Fund product,” the President said.

In data released on March it showed Kenyans have so far taken up Sh24 billion from the Hustler Fund since it was launched by President William Ruto late last year.

The fund has supported 19 million beneficiaries nationwide.

The Ministry of Cooperatives and Micro, Small, and Medium Enterprises notes that sh14.2 billion has been repaid as of today.

Customers who have borrowed more than once in the kitty now stand at 6.6 million. The total amount saved on the kitty in the last four months is sh1.2 billion.

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