The National Treasury has revealed plans to enhance the Hustler Fund, offering new enterprise and business opportunities for existing mama mboga and boda boda saccos. This strategic move, outlined in the 2024 Budget Policy Statement, aims to build on the Fund’s success, with over Ksh151 million already disbursed to 50,000 active groups.

Quoting the Budget Policy Statement, the government emphasized, “To support MSMEs, we will review business licenses, establish MSME Business Development Centers in every ward, industrial parks in each county, and business incubation centers in every TVET institution.”

President William Ruto, championing this initiative since 2022, highlighted the Fund’s role in liberating Kenyans from predatory lenders. He stated, “The Hustler Fund will help small business owners, establish a culture of saving, investment, and social security.”

The second phase, launched in June 2023, targets chamas with Group Micro Enterprise Loans ranging from Ksh20,000 to Ksh1 million. President Ruto disclosed that the Fund had disbursed Ksh39.7 billion to 21.8 million individuals within a year, with loan limits increased by up to 100% for consistent borrowers.

These financial opportunities can be accessed through USSD code *254# or mobile applications, revolutionizing access to finances.