Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Savings and Credit Cooperative Societies (Saccos) have been cited as a strategic vehicle for driving investment, savings, and a culture of entrepreneurship to help create wealth at Kenya’s grassroots. Speaking at the official launch of Shirikiana Sacco at Masinde Muliro University in Kakamega County, President William Ruto, who was the guest of honor, described the…
President William Ruto has launched Shirikiana Sacco, a new cooperative financial institution designed to expand access to savings, affordable credit and investment opportunities, in what he termed a landmark initiative set to transform livelihoods across Western Kenya and beyond. The launch, held at Masinde Muliro University of Science and Technology in Kakamega County, brought together…
The National Treasury has announced that the Hustler Fund has disbursed Sh87 billion since its launch in 2022, reaching 28 million accounts and extending formal financial services to millions of Kenyans who previously had little or no access to credit. Treasury Cabinet Secretary John Mbadi revealed the figures while presenting the 2026/27 Budget Statement in…
Hustler Fund is grappling with a severe liquidity crisis that has left thousands of borrowers unable to access credit, raising fresh questions about the sustainability of the government’s financial inclusion programme. Appearing before the Parliamentary Committee on Trade, Industry and Investment, officials from the State Department for MSMEs disclosed that the fund requires an immediate…
The State Department for Micro, Small and Medium Enterprises is seeking Ksh 300 million in a supplementary budget to pursue recovery of defaulted loans under the Hustler Fund, with Ksh12.5 billion still unpaid by borrowers. According to the department, the funds will primarily be used for awareness and sensitization campaigns aimed at encouraging defaulters to…
The National Assembly’s Special Funds Accounts Committee has demanded the tracking down of defaulters of the Financial Inclusion Fund, popularly referred to as the Hustler Fund, to recover billions of unpaid loans. In a session held at Bunge Tower, the lawmakers engaged the Financial Inclusion Fund Chief Executive Officer, Henry Tanui, and other officials on…
The government has announced its intention to lock out Kenyans who have failed to repay Hustler Fund loans from accessing credit from banks, SACCOs, and other financial institutions. This was announced by the Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya in Mombasa during the Kenya Public-Private Sector MSMEs Dialogue, which brought together more than…
President William Ruto has strongly defended the Hustler Fund against mounting criticism over its repayment performance, asserting that the initiative has transformed access to credit for millions of Kenyans. Speaking at the Presidential Private Sector Roundtable in Nairobi Wednesday, Ruto dismissed claims from opposition leaders and experts that the fund is plagued by high default…
Cabinet Secretary in the Ministry of Co-operatives, Wycliffe Oparanya has dismissed a new report by the Kenya Human Rights Commission, (KHRC) that had recommended scrapping of Hustler Fund. The report released on 4th August described the fund as a politically expedient but economically disastrous initiative that has failed to deliver on its promises of financial…
State Department for Micro, Small, and Medium Enterprises (MSMEs) Principal Secretary Susan Mang’eni, has defended the department’s move to seek additional funding of Ksh5 billion for the Hustler Fund. The PS while speaking during the 42nd Annual Institute of Certified Public Accountants of Kenya (ICPAK) Seminar in Mombasa, Mang’eni underscored the fund’s importance in providing…
