Hustler Fund Impact Assessment to Strengthen Financial Inclusion in Kenya

Financial inclusion remains a powerful pathway to unlocking the economic potential of all Kenyans. Through the Hustler Fund, the Government introduced a bold initiative to support citizens who had long been excluded from the formal financial system, enabling them to build a credit history towards unlocking access to affordable credit

To date the Fund has reached over 27 million Kenyans, disbursed over Kshs. 84 billion and mobilized over Kshs. 6 billion in both mandatory and voluntary savings. 

The Fund has provided platform to rehabilitate the credit rating of over 7 million who had been negatively listed in Credit Reference Bureaus while also according many young Kenyans who are becoming of age a first-time credit experience. 

Principal Secretary MSMEs Development Hon. Susan Mang'eni flagged off a multi-agency Technical Working Group to undertake an impact assessment of the Hustler Fund from both the micro and macro levels analysis. 

The team is also expected to oversee the finalization of the development of National Credit Score informed by the Hustler Fund behavioural data as well as the alternative data. The Credit score application will provide an instrument that will expand majority of Kenyans’ inclusion in the formal credit market and increase their access to affordable credit.

The exercise that is being facilitated by the Government of Kenya jointly the World Bank group and International Finance Corporation (IFC) is expected to be finalized by end this financial year.

The technical working group is drawn from  relevant MDAs, Central Bank of Kenya, The National Treasury, commercial banks, CRBs, SASRA , telecos, IFC and the larger world bank group.