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{
    "id": 1501349,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1501349/?format=api",
    "text_counter": 79,
    "type": "speech",
    "speaker_name": "His Excellency the President",
    "speaker_title": "",
    "speaker": {
        "id": 168,
        "legal_name": "Uhuru Muigai Kenyatta",
        "slug": "uhuru-kenyatta"
    },
    "content": "We have also prioritised the empowerment of individuals within the informal sector by unlocking their potential through targeted investment. This includes accessible loans, capacity building programmes and regulatory reforms designed to ease growth. A notable achievement is the partnership with the banking industry, which I participated in a month ago. This extended an additional Kshs150 billion in loans to Micro, Small and Medium Enterprises (MSMEs), complementing the Government’s efforts to nurture this vital sector. On financial inclusion, we have made remarkable progress through the Hustler Fund. To date, this innovative initiative has disbursed Kshs60 billion, benefiting 24.6 million Kenyans and mobilized over Kshs3.3 billion in savings. The Fund maintains a repeat customer base of 8.5 million beneficiaries, with a repayment rate of 79 per cent. To mark the Fund’s second anniversary, we have taken a bold step by launching a third product, specifically tailored for Small and Medium Enterprises (SMEs). This new initiative will initially target two million beneficiaries who have demonstrated a strong credit history with the Fund. By so doing, we aim to create a pathway for these entrepreneurs to transition into the formal banking system, thereby deepening financial inclusion and strengthening the SME sector. This milestone underscores our commitment to build a financially inclusive and economically resilient nation. The progress we have made has been possible only because the people of Kenya have been courageous, strong, determined and patriotic. It has also been enabled by a number of early"
}