President Ruto Slams Hustler Fund Defaulters

President William Ruto has cautioned Kenyans who failed to repay their Hustler Fund loans, saying they are the ones losing opportunities for growth. 

He made the remarks on Friday, November 7, during the launch of the NYOTA project at the Mumias Sports Complex in Kakamega County.

Ruto said that some people borrowed small amounts from the Hustler Fund and refused to pay back. 

He explained that by doing so, they denied themselves the chance to increase their borrowing limits and improve their lives.

“There are people who took KSh 500 and disappeared. The loss is theirs. You would be getting KSh 50,000 now if you had repaid that KSh 500,” Ruto said. 

“No one is chasing you for the money, but you need to plan yourself well. You can start again and borrow KSh 1,000 when you are ready.”

The president encouraged Kenyans to use the Hustler Fund wisely, saying it was created to help small traders, boda boda riders, and mama mbogas grow their businesses.

He explained that the fund allows borrowers to build trust over time and qualify for higher loan limits if they make repayments on time.

Ruto added that people with a good credit record will benefit more from government financial programs.

Those who fail to repay, he said, would miss out on future benefits, including new projects like the NYOTA programme.

The NYOTA project, launched in Kakamega, aims to support young people from poor backgrounds to become self-reliant. It combines training, mentorship, and financial help.

Each successful applicant will receive up to KSh 50,000 as a grant to start or expand a business.

The government, with support from the World Bank, has set aside KSh 5 billion for the initiative, targeting 100,000 young people across the country.

Ruto urged the youth to take advantage of the opportunity, saying it is better to start small and grow gradually.

“It is okay to begin with little, because there is a future ahead,” he said.

Earlier, the government announced that over nine million Hustler Fund defaulters would not be allowed to benefit from the NYOTA grants until they clear their loans.

The president’s message was clear: progress belongs to those who are disciplined and responsible with money.