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
Wednesday, 13 November 2024 ()
