Principal Secretary for the State Department for Micro, Small and Medium Enterprises Development Susan Mang’eni has publicly challenged former Deputy President Rigathi Gachagua over remarks that appeared to downplay the achievements of the Hustler Fund.
Mang’eni defended the government-backed financing programme, highlighting the number of Kenyans who have accessed its loan products and the growth of its overall loan portfolio.
The PS said the Hustler Fund has continued to expand since its launch, with millions of Kenyans accessing credit through personal, group and business-oriented loan products.
She pointed to the fund’s growing portfolio as evidence that the programme has become an important source of credit for people who may otherwise struggle to access financing through traditional banking institutions.
Mang’eni also highlighted the progress made by borrowers who have demonstrated good repayment behaviour. Some users have reportedly moved from smaller initial loans to higher limits after building a positive credit history.
The Hustler Fund was introduced by President William Ruto’s administration as part of its Bottom-Up Economic Transformation Agenda, with the goal of increasing access to affordable credit for individuals, small businesses and organised groups.
However, the programme has faced criticism over its financial sustainability, repayment rates and management, with opposition figures and other critics questioning whether it has delivered the economic impact promised by the government.
Mang’eni has consistently defended the initiative, arguing that its performance should be measured by the number of people it has reached and the access to credit it has created.
The latest exchange with Gachagua adds a political dimension to the debate surrounding the fund as the two sides present different views about its achievements.
Mang’eni's remarks underline the government's determination to defend one of President Ruto's flagship economic programmes amid continued criticism from political opponents.