90 percent of Kenyans are repaying Hustler Fund loans- Ruto

President William Ruto has highlighted the remarkable success of the Hustler Fund loan products, revealing that the default rate remains exceptionally low.

During his speech at the World Chambers Federation Africa Summit in Nairobi on Wednesday, April 9, 2025, Ruto commended the initiative, noting its significant positive impact on financial inclusion.

The President further emphasized that the loan facility had recorded a high repayment rate of 90 percent, underscoring the program's effectiveness and the trust it has garnered among beneficiaries.

This achievement reflects the growing success of the Hustler Fund in empowering individuals and boosting economic growth at the grassroots level.

The President addressed a group of business and industry leaders at the summit, highlighting that, despite the absence of collateral requirements, Kenyans have shown a strong commitment to meeting their debt obligations and improving their credit scores.

He also pointed out that the low interest rates offered by the Hustler Fund have been a key factor in attracting a significant number of borrowers, making the product an appealing option for many.

"If you look at the MSME sector, they pay very high interest rates, yet they still make money. If there were a financial innovation that has products like we tried we the Hustler Fund," Ruto stated.

"It is amazing today that despite the fact that it has no collateral, up to 90 percent repayment is happening," said the President.

"You would expect that a financial product that has no collateral and therefore individuals would have no incentive to pay back, but they are paying back because they see the value of the low interest they get in that product and that is why repayment is all the way up to 90 percent."

While commending the Hustler Fund, one of his key initiatives launched after assuming office, the President urged capitalists to explore the potential of this idea.

Ruto emphasized that with the right investments, the credit facility could be expanded to reach even more Kenyans, providing them with access to affordable credit and further driving economic growth.

"These are innovations that can be rolled out and scaled up, and we are looking at partners who can work with us," Ruto told various industry players who attended the event.

The product has undergone several modifications, including increasing the borrowing limits for Kenyans across various sectors.

In November 2023, President Ruto announced that Kenyans would be able to access higher loan amounts, with the fund raising borrowing limits by up to 100%.

He added, "For those who have shown a strong commitment to saving, and if your savings surpass your loan limit, we will double your credit limit."