Hustler Fund: Omollo Says 25M Kenyans Borrow Daily

In Short

• Hustler Fund Principal Secretary for Internal Security Raymond Omollo said more than 25 million Kenyans access the government facility daily to obtain credit.
• He said the loans help small-scale traders, entrepreneurs, and other business owners run and expand their businesses, then repay.
• Omollo urged beneficiaries to focus on the fund’s savings component, not only borrowing.

What Happened

Hustler Fund, officially known as the Financial Inclusion Fund, is being used by more than 25 million Kenyans each day, according to Principal Secretary for Internal Security and National Administration Raymond Omollo.

Omollo said the facility has opened access to affordable loans for millions of Kenyans. He said this enables small-scale traders, entrepreneurs, and other business owners to finance business activities and repay the money after use.

Speaking in Busia County, Omollo encouraged residents, particularly fishermen and small business operators, to take advantage of the facility to grow their enterprises. “Right now, we have over 25 million Kenyans who daily get the opportunity to access the Hustler Fund, withdraw money to push their businesses forward, and repay it afterward,” Omollo said.

He also pointed to the savings component built into the fund. Omollo urged beneficiaries to develop a savings culture, saying regular savings can help build financial discipline and mobilise resources for future investments.

The fund was launched in November 2022 as part of the government’s efforts to expand access to affordable credit, particularly among low-income earners and micro, small and medium-sized enterprises (MSMEs). It provides personal loans through mobile money platforms. Borrowers receive 95 per cent of approved loan amounts, while five per cent is directed towards savings.

Why It Matters

Hustler Fund’s structure ties borrowing to savings, which could help borrowers build reserves while still accessing credit. Omollo’s comments also show how strongly mobile money based lending is being positioned as part of Kenya’s broader financial inclusion agenda, especially for groups that struggle to access formal credit.