How Hustler Fund is eating into leading lenders' mobile money lunch

Presdient William Ruto purchases potatoes from a vendor during the Hustler Fund launch at Railways on November 30, 2022. [Kelly Ayodi, Standard]

The government's multi-billion-shilling Hustler Fund has taken the battle for the lucrative fast-growing market for quick digital credit that does not require collateral to market leaders, including Safaricom, NCBA and KCB.

Fresh data shows nearly half of Kenyan soft loan borrowers have at some point tapped the Hustler Fund, underlining its emerging entrenchment in the Kenyan economy.