BY KEPHER OTIENO

President William Ruto has expressed immense satisfaction with the success of the government’s Hustler Fund, which has disbursed a staggering Sh60 billion since its launch.

This initiative, aimed at empowering small-scale entrepreneurs, has provided vital financial support to businesses across Kenya.

“It has been particularly beneficial for those referred to as “hustlers,” enabling them to access affordable credit and free themselves from the grip of exploitative lenders,” said the President at Uhuru Gardens Jamhuri Day Celebrations.

The loans, which cater to a variety of business needs, Ruto observed, have not only boosted economic activity but also improved borrowers’ creditworthiness, fostering a more inclusive financial system for aspiring entrepreneurs across the nation.

“The Hustler Fund has empowered millions of individuals to expand their businesses, pay off existing debts, and strengthen their financial standing,” explained the President.

He said offering affordable loans, the fund is helping to build a more resilient economy, giving small businesses the tools they need to thrive.

This move is in line with the government’s broader agenda of financial inclusion and economic empowerment, especially for ordinary Kenyans.

In addition to the progress made in the financial sector, President Ruto also provided an optimistic update on Kenya’s food security.

The country, he reported, is now fully food secure, with impressive stockpiles of essential grains and staples in reserve.

As of now, Kenya holds 95 million 50-kg bags of maize, 9 million bags of beans, 10 million bags of wheat, and 2 million bags of rice, ensuring that the country is well-prepared to meet its food needs even in times of crisis.

The President attributed this achievement to a combination of factors, including government efforts to reduce the cost of fertilizers and increase investment in agriculture.

These steps have significantly boosted food production, doubling the country’s agricultural output.

As a result, the cost of living has been eased, with food prices on the decline—a significant relief to many Kenyans, especially after the Gen Z protests earlier this year, which raised concerns over the rising cost of basic goods.

With food production increasing and basic food items becoming more affordable, consumer spending power has strengthened.

This improvement in the cost of living is expected to stimulate economic growth, creating a more stable environment for businesses and households.

The combination of financial empowerment through the Hustler Fund and food security provides a solid foundation for Kenya’s economic recovery, despite the ongoing global uncertainties.

This marks a pivotal moment in the country’s economic trajectory, as it moves towards a more prosperous and self-sustaining future.