President William Ruto convened with Co-operatives Cabinet Secretary Wycliffe Oparanya at State House on Wednesday, July 29, in a meeting attracting significant political attention ahead of the 2027 general elections.
This discussion follows the Orange Democratic Movement's (ODM) recent endorsement of Oparanya as their preferred running mate for President Ruto, aiming to replace current Deputy President Kithure Kindiki amid ongoing coalition negotiations.
Hustler Fund Achievements
During the meeting, President Ruto provided an update on the Financial Inclusion Fund, commonly known as the Hustler Fund, which falls under CS Oparanya's ministry. He revealed that the fund has disbursed KSh 90 billion to 28 million borrowers through three lending products: Personal Loan, Bridge Loan, and Hustler Groups.
The fund currently advances KSh 50 million daily, supporting millions of Kenyans with affordable credit options.
"I received a briefing on the progress the Financial Inclusion Fund is making in transforming lives. We remain committed to resourcing the fund to ensure continued access to affordable credit," Ruto stated.
He also noted that the fund has attracted 10 million repeat customers, with 4.5 million maintaining strong credit scores (A and B) due to responsible borrowing and repayment habits. Additionally, borrowers have collectively saved KSh 7 billion through the platform.
Digital Innovation
President Ruto expressed pride in the fund's fully digital operations, emphasizing that all processes have been digitized since its inception, enhancing efficiency and accessibility.
Launched as a flagship initiative under Ruto's administration, the Hustler Fund aims to provide low-cost credit to ordinary Kenyans excluded from traditional banking services.
Political Implications
The meeting between President Ruto and CS Oparanya comes amid intensified speculation regarding coalition alignments ahead of the 2027 elections, with ODM advocating for Oparanya's inclusion on the presidential ticket.
