The current president of Kenya, William Ruto launched the Hustlers Fund in November 2022. The aim of the fund is to support budding entrepreneurs who lack the financial resources to start their businesses.
The fund is a part of Ruto’s broader agenda to uplift the economic status of the marginalized Kenyan population referred to as “Hustlers.”
Recently, the Kenyan government announced that it will allocate Ksh.10 billion ($72 million) to the Hustlers Fund. This announcement has been received positively by the Kenyan public, especially the youth who form a significant proportion of the Hustlers.
The funds will be used to support small businesses, including start-ups, and help create employment opportunities.
The Hustlers Fund is a critical initiative in a country where unemployment rates are high, and the majority of the population lives below the poverty line.
The fund will help to bridge the gap between the rich and the poor by providing financial support to those who are struggling to get started. It is expected that the fund will create a ripple effect in the economy, where the beneficiaries of the fund will become employers themselves, creating more jobs and contributing to the overall growth of the economy.
By Elijah Christopher