PS Susan Mang’eni defends Hustler Fund against Gachagua’s claims

By Maurice Momanyi

Principal Secretary for Micro, Small and Medium Enterprises Development Susan Mang’eni has dismissed claims made by former Deputy President Rigathi Gachagua about the Financial Inclusion Fund, popularly known as the Hustler Fund, saying the programme continues to deliver measurable benefits to Kenyans.

In a response issued on Tuesday, Mang’eni said it was important to “set the record straight” following what she described as sensational allegations by Gachagua, using Nyeri County to demonstrate the fund’s performance.

According to the PS, more than 420,000 people in Nyeri County have accessed the Hustler Fund since its launch, borrowing a cumulative KSh 1.88 billion. She noted that the number of beneficiaries represents more than half of the county’s population.

Mang’eni also highlighted individual borrowing trends, revealing that the highest borrower in Nyeri County has cumulatively accessed KSh 2.06 million. In Mathira Constituency, the top borrower has received KSh 648,000, while the leading borrower in Ruguru Ward has accessed KSh 584,000.

She further cited Nyeri as the country’s best-performing county in loan repayment, recording an 88 percent repayment rate. Murang’a, Kiambu and Nairobi follow closely with repayment rates of 87 percent.

The PS said the figures demonstrate that the Hustler Fund is expanding financial inclusion while supporting entrepreneurs and small businesses through affordable credit.

Her remarks come amid renewed political debate over the government’s flagship lending programme, with Gachagua questioning its management and impact.