Kenya: Why President Ruto's Plan to Loan Money to Entrepreneurs Hasn't Worked
Wednesday, 13 November 2024 [The Conversation Africa] It's two years since Kenyan president William Ruto, in what seemed like a political gamble, rolled out a government-run microcredit scheme popularised as the Hustler Fund. Worth 50 billion shillings (US$409 million) a year over a five-year period, the low-interest loans were touted as the "magic formula" to start or grow micro, small and medium businesses. Now the fund faces an uncertain future owing to a high default rate. Eric Magale, who studies the complex relationship between finance, livelihoods and
President William Ruto has canceled two main deals involving Jomo Kenyatta International Airport (JKIA) and the Kenya Electricity Transmission Company (Ketraco) with Indian billionaire Gautam Adani..
Wednesday, 13 November 2024
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