- CS Wycliffe Oparanya requests an additional Ksh.8.4 billion for the Hustler Fund.
- The fund has disbursed Ksh.62 billion to MSMEs in the 2024/25 fiscal year.
- The MSMEs department faces a Ksh.19.6 billion funding gap.
- Oparanya also seeks increased funding for the Uwezo Fund and MSEA.
Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya has urged the government to allocate an additional Ksh.8.4 billion to the Financial Inclusion Fund (Hustler Fund) to enhance credit access and cover operational costs.
Speaking before the National Assembly Departmental Committee on Trade, Industry, and Cooperatives on Monday, Oparanya stated that the Hustler Fund remains underfunded in the 2025/26 budget.
“The Financial Inclusion Fund (Hustler Fund) requires an additional Ksh.8 billion for credit disbursement and Ksh.400 million for recurrent,” Oparanya stated.
Funding Gap in MSMEs Sector
Oparanya revealed that the MSMEs State Department requires Ksh.25.9 billion for the next fiscal year but has only been allocated Ksh.6.35 billion, leaving a shortfall of Ksh.19.6 billion.
Launched in November 2022, the Hustler Fund provides affordable loans between Ksh.500 and Ksh.50,000 at an annual interest rate of 8%. The fund recently introduced a credit scoring system to help borrowers access higher loans.
Push for More MSMEs Support
Beyond the Hustler Fund, Oparanya’s ministry is advocating for:
- Ksh.618.6 million for the Uwezo Fund, which empowers women, youth, and disabled persons.
- Ksh.542.6 million for the Micro and Small Enterprises Authority (MSEA) to cover operational costs.
- Ksh.450 million to equip and operationalize Constituency Industrial Development Centres (CIDCs), Centres of Excellence, and cold storage facilities.
The government now faces the challenge of balancing economic priorities while ensuring continued support for MSMEs and financial inclusion initiatives.
