The Hustler Fund continues transforming financial inclusion in Kenya, but data shows that men borrow more than women. According to the latest government reports, out of the Ksh 60 billion disbursed by November 2024, a significant portion has gone to male borrowers. The trend raises concerns about gender gaps in financial access and empowerment.

Related Article: Hustler Fund: 30% of Kenyans Reborrow for Growth

Hustler Fund: A Game Changer for Businesses

The Hustler Fund aims to provide affordable credit to small businesses and individuals. By the end of 2024, it had reached 24.6 million customers, with 8.5 million repeat borrowers. The fund has also encouraged savings, accumulating Ksh 3.3 billion in deposits.

However, despite efforts to support women-led enterprises, men have dominated the borrowing. Out of 24.6 million borrowers, only 8.8 million were women. Women accounted for Ksh 23 billion of the total Ksh 47 billion disbursed to them, showing a disparity that needs addressing.

Gender Disparity in Hustler Fund Loans

Differences in the kinds of businesses men and women own could explain why men often face higher loan interest rates. Many men control small and medium-sized enterprises, giving them greater access to funds. Meanwhile, women rely on cooperative groups like chamas and table banking, which can limit individual borrowing potential.

The government has taken steps to empower women through the Hustler Fund by offering tailored financial support to women-led cooperatives. Yet, cultural and structural barriers continue to limit their borrowing compared to men.

Including Women

Policymakers plan to expand financial education and provide additional incentives for female entrepreneurs to bridge the gap. More awareness campaigns and accessible loan structures may help increase their participation in the Hustler Fund.

Maintaining equal access to borrowing will be vital as the fund develops. The Hustler Fund’s success should be measured not only by loan disbursements but also by how well it supports financial inclusion for both men and women.