Aasai

Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya has called for an additional Ksh.8.4 billion allocation to the Hustler Fund in the 2025/26 financial year. Speaking before the National Assembly’s Trade, Industry, and Cooperatives Committee on Monday, he emphasized that the government’s financial inclusion initiative remains underfunded, limiting its impact on small businesses.

Oparanya revealed that the MSMEs State Department requires Ksh.25.9 billion but has only been allocated Ksh.6.3 billion—leaving a Ksh.19.6 billion shortfall. He stressed that the Hustler Fund alone needs Ksh.8 billion for credit disbursement and Ksh.400 million for recurrent expenditure to support its expansion and sustainability.

Since its launch in November 2022, the Hustler Fund has provided over Ksh.62 billion in loans to small businesses, with amounts ranging from Ksh.500 to Ksh.50,000 at competitive interest rates. Recent enhancements, including improved credit limits and borrower credit scores, have made it more accessible to entrepreneurs previously locked out of financial services.

 Beyond the Hustler Fund, Oparanya also sought additional funding for the Uwezo Fund, targeting women, youth, and persons with disabilities, as well as the Micro and Small Enterprises Authority. He highlighted urgent financial gaps in personnel, rent, and operational expenses, stressing the need for more resources to drive sustainable business growth.