President William Ruto has appointed Habil Olaka as the new chairperson of hustler fund.
The announcement was made through gazette notice.
“In exercise of powers conferred by regulation 10 (1) (a) of Public Finance Management (Financial Inclusion Fund) Regulations, as read together with section 51 (1) of the Interpretation of General Provisions Act, I, William Samoei Ruto, President of the Republic of Kenya and commander in Chief of the Defence forces, appoint Habil Olaka to be the Non-Executive Chairperson of the Advisory Board of the Financial Inclusion Fund” the notice read.
His appointment came after the Head of State removed the initial appointment of Irene Muthomi-Karimi.
The Hustler fund is a key initiative of Ruto’s administration which was launched by him back in 2022.
It was built to provide accessible financial support to small businesses and entrepreneurs across the country.
The Head of the Republic further announced the launch of a Bridge Loan, new financial product under hustler fund in 2024.
During the launch, he noted that the initiative aimed to provide Kenyans with higher loan limits and longer repayment periods.
The fund has so far accumulated Ksh. 2.5 billion savings for three years since it’s launch.
