- President Ruto appoints Habil Olaka as the Non-Executive Chairperson of the Hustler Fund.
- Olaka will serve for three years, replacing Irene Muthoni, who held the role since 2023.
- The former Kenya Bankers Association CEO is expected to bring strategic leadership to the fund.
- Supports small businesses and low-income earners with affordable credit.
President William Ruto has appointed Habil Olaka, the former CEO of the Kenya Bankers Association, as the Non-Executive Chairperson of the Hustler Fund—one of Kenya Kwanza’s flagship financial inclusion projects.
According to a gazette notice dated February 21, 2025, Olaka will serve a three-year term, taking over from Irene Muthoni, who had been in office since January 21, 2023.
“In exercise of the powers conferred by Regulation 10 (1) (a) of the Public Finance Management (Financial Inclusion Fund) Regulations, as read together with section 51 (1) of the Interpretation and General Provisions Act, I, William Samoei Ruto, President of the Republic of Kenya and Commander in Chief of the Defence Forces, appoint Habil Olaka (Dr.) to be the Non-Executive Chairperson of the Advisory Board of the Financial Inclusion Fund, for three years, with effect from 21st February 2025,” the notice read in part.
Strengthening the Hustler Fund
Olaka’s appointment is expected to enhance the Fund’s governance and financial management, given his vast experience in the banking sector.
The Hustler Fund, launched by President Ruto, is designed to provide affordable credit to small businesses and low-income earners, aligning with the government’s commitment to financial empowerment.
His appointment comes at a crucial time when the Fund is expanding its reach to more micro, small, and medium enterprises (MSMEs) across Kenya.
