Nairobi, April 11 : President William Ruto has reaffirmed the Kenya-Kwanza administration's commitment to empowering Kenyans at the grassroots by promoting inclusive growth.
The Head of state emphasised that through strategic investments and targeted support,the Bottom-Up Economic Transformation Agenda aims to unlock opportunities, boost creativity, and uplift those at the base of the economic pyramid.
Mr. Ruto, pledged to introduce reforms and policies that will empower youths, offer business opportunies and tackle the high unemployment in the country.
"As part of our bottom-up economic transformation agenda, we are focused on uplifting those at the bottom of the economic pyramid. Our goal is to catalyse a bottom-up surge of creative and productive opportunities through strategic investment and targeted intervention" he said.
At the same time, the President revealed the progress of the Hustler Fund, noting that the financial scheme is successfully aiding Kenyans access to microfinance.
According to Ruto, a staggering 90% of Kenyans are repaying their Hustler Fund loans—despite the loans requiring no collateral whatsoever.
The Head of state, revealing the unexpected success of the Financial scheme, painted a picture of national discipline and trust in government-backed finance.
“The figures are nothing short of shocking,” Ruto declared. “You’d think zero collateral means zero repayment—but Kenyans are proving the world wrong. They’re paying up, not because they’re being forced, but because they actually see the value!”
According to the President, the public’s response to the Hustler Fund has defied conventional financial logic.
Despite lacking the usual loan security measures, Kenyans are lining up to settle their debts, drawn by ultra-low interest rates and accessible terms.
Ruto insists that the Fund isn’t just about loans—it’s about mobilizing a grassroots bottom-up economic transformation.
“This is not just a fund. It’s a movement. It’s a catalyst for a new Kenya,” he said.
While financial institutions typically rely on collateral to ensure loan repayments, the Hustler Fund’s skyrocketing success has left many questioning traditional banking models.
Launched in November 2022, the Hustler Fund was designed to help everyday Kenyans—especially small business owners—access fast, flexible credit via mobile phones and USSD codes.
With a maximum limit of Sh50,000 and an 8% annual interest, the fund has revolutionized how microloans are accessed in the country.
Meanwhile, as part of the strategic investment and targeted interventions, the government has eased requirements to attract foreign investors in the country.
Kenya has withdrawn a proposal that would have raised the minimum capital requirement for foreign investors from Ksh12.9 million to Ksh64.6 million, in a move aimed at attracting more international firms, especially those in sectors that rely more on expertise than money.
The Kenya Investment Authority (KenInvest) said it made the decision after consultations with stakeholders, noting that keeping the current threshold will help encourage serious investors without locking out knowledge-based businesses.
The revised Investment Promotion and Facilitation Bill 2025 also introduces faster approval processes for key investments through a “green channel” to ease delays caused by multiple government authorisations.
Kenya is under pressure to improve its appeal to foreign investors as FDI inflows continue to lag behind neighbours Ethiopia and Uganda.
On the cost of living, the President has reiterated on numerous occasions that his administration was tackling the alleged "mess" of debts left by the previous administration, but has succeeded to ease the burden, promising more development, lower food prices and lesser taxes during his remaining tenure.
He has also sought more support, patience and time, exuding confidence in his administration's ability to deliver on it's promises to Kenyans through the Bottom-up Economic Transformation ('BETA) Agenda.
