Mbadi: Hustler Fund has disbursed Sh87bn to 28 million accounts since 2022

The government has disbursed Sh87 billion through the Hustler Fund to 28 million accounts since its launch in 2022 as part of efforts to expand access to affordable credit and strengthen micro, small and medium-sized enterprises (MSMEs), Treasury Cabinet Secretary John Mbadi has said.

Presenting the 2026/27 Budget Statement in Parliament on Thursday, Mbadi said the government has deliberately focused on putting affordable financing, markets and shared infrastructure directly into the hands of entrepreneurs and young people at the base of the economy.

“To support MSMEs, the government has moved deliberately to put affordable credit, markets and shared infrastructure directly into enterprises and into the hands of young people at the base of the economy,” Mbadi said.

He noted that expanding access to affordable credit remains a key pillar of the Bottom-Up Economic Transformation Agenda, which seeks to empower small businesses and unlock economic opportunities for millions of Kenyans.

“To expand access to affordable credit, the government established the Hustler Fund in 2022,” he said.

According to Mbadi, the fund has since emerged as one of the country's largest financial inclusion initiatives.

“Since then, the fund has disbursed Sh87 billion to 28 million accounts and given 4.5 million previously blacklisted Kenyans a formal credit history for the first time,” he said.

The development means millions of borrowers who were previously excluded from formal financial services can now access credit through regulated channels, helping them grow businesses and improve household incomes.

The CS said the government is complementing access to credit with investments in entrepreneurship development and youth empowerment programmes.

He cited the Nyota Programme as one of the flagship initiatives targeting young entrepreneurs across the country.

Under the Nyota Programme, more than Sh5.6 billion has been invested in business skills training, mentorship and start-up capital,” Mbadi said.

The programme has benefited at least 84 youths in each of Kenya’s 1,450 wards, providing them with the knowledge, skills and resources needed to establish and grow businesses.

Mbadi said the initiatives reflect the government's commitment to building a resilient and inclusive economy by supporting enterprises that form the backbone of employment and economic activity.

The Treasury chief delivered the budget under the theme “Sustaining the Bottom-Up Transformation Agenda for Resilient and Inclusive Growth Amid Global Uncertainty.”

He said the theme reflects both the challenges facing the global economy and the government's determination to protect livelihoods while sustaining growth.

“The theme aligns with the current challenges and priorities of the government,” Mbadi said.

He added that strengthening MSMEs, expanding financial inclusion and investing in youth entrepreneurship will remain central to the administration’s economic strategy as it seeks to create jobs, stimulate business growth and improve the livelihoods of Kenyans.

The government views MSMEs as a critical driver of employment, innovation and economic resilience, particularly at a time when countries around the world are grappling with economic uncertainty and shifting global market conditions.