The Passion for Football and the Hustler Fund in Kenya
Football derbies between Manchester United and Arsenal are always exciting events, drawing large crowds. In the English Premier League, these matches are closely followed, with only Manchester City FC coming close in terms of popularity. However, in Kenya, the fervor for these matches is even more intense. Fans watch the games on television, cheering for their favorite teams—Arsenal and Manchester United, often referred to as Man-U—even though they are far from the actual playing fields.
Despite the distance, Kenyan fans are deeply invested in the outcomes of these matches. A loss by either team can lead to disappointment and heartbreak among many supporters. This raises the question: what drives this passion? Some fans are simply drawn to the sport, while others engage in betting, placing wagers on the results of matches involving Arsenal, Man-U, Manchester City, or other clubs.
One such example is Mr. Domenic Nzioki, a 25-year-old small business owner living in Nairobi’s Kasarani estate. Nzioki runs a stall selling smokies and boiled eggs. Recently, he was seen lamenting his financial losses due to an unsuccessful bet on a football match. He had lost Sh42,000, which could have been used to expand his business and purchase additional trolleys. Instead, he now faces the challenge of how to afford basic ingredients like tomatoes, onions, and sauces for his kachumbari.
Nzioki’s story highlights the risks of gambling and the importance of financial stability. However, he found hope in the Hustler Fund, a government initiative designed to support micro, small, and medium enterprises (MSMEs). The Hustler Fund provides affordable and inclusive financing options for individuals and informal businesses that are typically excluded from the mainstream financial system.
The Role of MSMEs in Kenya’s Economy
MSMEs form the backbone of Kenya’s economy, contributing significantly to employment, innovation, and income generation. According to government records, MSMEs account for over 80% of employment outside the formal sector and contribute roughly 33–40% of Kenya’s Gross Domestic Product (GDP). Despite their importance, the sector has long faced challenges such as limited access to credit, inadequate financial infrastructure, informality, and a lack of skills and business support.
The Hustler Fund, launched in November 2022, aims to address these issues by providing mobile-based micro-loans, savings, and eventually pension and insurance products. This initiative empowers millions of people, particularly those in lower-income brackets, by promoting financial inclusion, responsible borrowing, and enterprise growth.
Evolution of the Hustler Fund
Initially, the Hustler Fund focused on addressing urgent needs, such as access to affordable, collateral-free credit. Small-scale traders, including boda boda operators, mama mbogas, and artisans, were often at the mercy of unregulated lenders who charged exploitative interest rates. To tackle this, the government also rolled out a nationwide financial literacy program, helping borrowers understand how to manage their money effectively and grow their businesses.
Community outreach through local leaders and SACCOs ensured that even remote areas could access both financing and mentorship. By 2024, the Hustler Fund had evolved beyond individual microloans, supporting organized groups and registered enterprises. New products were introduced, targeting youth and women groups, cooperatives, and startups with proven growth potential.
In the same year, an MSME Credit Guarantee Scheme was established, allowing banks and other financial institutions to lend to small businesses with reduced risks while maintaining commercial standards. The Ministry of Cooperatives and MSME Development became increasingly active in creating conducive ecosystems for business growth.
Expanding Opportunities for Entrepreneurs
Through county-based MSME hubs, entrepreneurs have gained access to shared workspaces, internet connectivity, product development services, and government procurement opportunities. From November 2022 to September 2025, the Hustler Fund has transformed into a national movement fueling a culture of entrepreneurship and financial inclusion.
As the Kenya Kwanza administration crosses its third year, the Hustler Fund has matured into more than just a financing tool; it has become a cornerstone of a broader economic empowerment strategy. The government has launched the MSME Market Access Initiative, opening up regional and international markets for Kenyan products crafted by small manufacturers and cooperatives.
Digital training programs have empowered entrepreneurs to move their businesses online, improving efficiency, visibility, and customer reach. The administration’s push for digital inclusion ensures that even the smallest enterprises are part of Kenya’s digital economy.
Supporting the Jua Kali Sector
A key feature of the third year has been the government’s investment in tools of trade. Through public-private partnerships, the Jua Kali sector has received modern equipment, protective gear, and support in product standardization. Artisans are now able to produce goods that meet industry and export standards, benefiting from direct government orders for furniture, school desks, and construction materials.
This demand-driven approach has increased job creation and given dignity to work traditionally associated with informal labor. Today, 26.5 million Kenyans are subscribed to the Hustler Fund either individually or in groups. Women account for more than half of the beneficiaries, while youth-led businesses have experienced notable growth.
Conclusion
The informal sector is slowly shedding its invisibility, with many small businesses transitioning into the formal economy, acquiring credit histories, and even registering for taxation. President Ruto’s vision to create a bottom-up economy has taken root as the focus shifts from dependency to productivity, and from short-term survival to long-term enterprise development.
While challenges like high inflation still exist, the foundation laid by the Hustler Fund and accompanying MSME policies are proving resilient. The government’s continued investment in this space signals a long-term commitment to ensure that no Kenyan is left behind in the journey toward shared prosperity.
As the country looks ahead to the fourth year of the administration, one thing is clear: the hustler economy is no longer a slogan. It is now a structured and evolving pillar of Kenya’s economic transformation.
