What should happen to Hustler Fund

According to a new report by the Kenya Human Rights Commission (KHRC), the Hustler Fund should be scrapped entirely due to what they describe as political interference, economic inefficiencies, and structural weaknesses.

Launched in November 2022 with Sh50 billion in capital, the fund had disbursed over Sh9.6 billion by December 2023.

However, KHRC argues that these efforts have not translated into lasting impact.

The report recommends reallocating the remaining resources to more established programs like the Women Enterprise Fund (WEF), Youth Enterprise Development Fund (YEDF), and Uwezo Fund.

It also calls for safeguards to prevent duplication and misuse of funds.

Additionally, KHRC stresses the importance of making financial literacy training mandatory for future loan programs. To enhance sustainability, they suggest including business support services such as record-keeping and market access.

These structural and strategic reforms aim to improve accountability, effectiveness, and long-term economic empowerment for Kenyans.