The Hustler Fund Paradox...

Kenya's #1 newsletter among business leaders & policy makers

June 11, 2025

The paradox of the Hustler Fund, CBK Rate Cuts, and the impressive market rally thanks to Safaricom…These are our biggest business stories today…

Welcome. I am Brian from The Kenyan Wall Street…

Analysis

💳 How the Rich Out-borrowed the Poor in Hustler Fund

The Hustler Fund, designed to uplift the marginalized, has found its most devoted patrons among the wealthy. With over a third of top-tier earners tapping into the program, the initiative’s populist promise now rings hollow, marred by default rates nearing 64% and loans mistakenly granted to infants and time travelers. As Parliament balks at expanding the Fund’s budget, citing a lack of repayment and transparency, other social funds like the Women Enterprise Fund are quietly collapsing under fiscal neglect. Read here »»»»»

Your Opinion 

Do you think the Hustler Fund can recover most of the loans it disbursed and stem defaults?

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CBK Cuts Benchmark Rate to 9.75%, Revises 2025 GDP Growth to 5.2%

CBK cuts rate to 9.75% as inflation eases. First single-digit rate since Aug 2024. GDP growth forecast revised to 5.2% in 2025.

kenyanwallstreet.com/cbk-cuts-benchmark-rate-to-9-75-revises-2025-gdp-growth-to-5-2

Capital Markets

📈 Safcom Pushes the Equities Rally

Safaricom’s 6.1% surge on June 10 pushed its stock to KSh 22.60, its sharpest daily climb in six months, reigniting optimism on the Nairobi Securities Exchange. The rally lifted its market cap to KSh 906 billion and sent the NSE All Share Index soaring 2.82%, breaching the 140-point mark for the first time since 2022. With the Central Bank slashing its policy rate and yields on short-term securities dipping, equities are drawing renewed investor interest. Safaricom’s steady performance, anchored by M-PESA and Kenyan operations, continues to lure foreign inflows and stabilize market sentiment. Read here »»»»»

FXMeridian Opens New Offices, Marking Its Expansion into the African Market

FXMeridian, a leading player in the global financial trading and fintech space, is broadening its international footprint with the opening of a new office in Nairobi, Kenya and Cape Town, […]

kenyanwallstreet.com/fxmeridian-opens-new-offices-marking-its-expansion-into-the-african-market

NSE Gainers And Losers

Source : NSE

Also Read…

💰 Counties Confront Reality in Revenue Targets

In an assessment of fiscal performance, Kenya’s Controller of Budget has urged counties to revise their own-source revenue targets to reflect achievable outcomes, following a shortfall of nearly half their Ksh 87.11 billion goal. While Tana River soared to 172% of its target—thanks to gypsum extraction—others like Kisumu and Machakos languished below 40%, spotlighting uneven economic strategies across devolved units. Dr. Margaret Nyakang’o recommends data-driven forecasting and immediate revenue mobilization tactics as counties scramble to meet their financial obligations before the fiscal year closes. Despite a Ksh 255.54 billion injection from the national fund, only 26% of development budgets have been absorbed—underscoring deeper inefficiencies beyond just optimistic projections. Read more »»»»»

KRA to Deactivate Accounts as VAT Collection Hits KSh 32Bn in May

The Kenya Revenue Authority (KRA) recorded a 16% increase in VAT collections, topping KSh 32.141 billion as at the close of May 2025.

kenyanwallstreet.com/kra-to-deactivate-accounts-as-vat-collection-hits-ksh-32bn-in-may

CBK, World Bank Trim Kenya's Economic Growth Forecast Amid Trade Headwinds

CBK has cut its 2025 growth forecast to 5.2% from 5.4%, blaming higher trade tariffs but nonetheless expecting stronger yields

kenyanwallstreet.com/cbk-world-bank-trim-kenyas-economic-growth-forecast-amid-trade-headwinds

MTN Uganda Seeks Shareholder Approval to Spin Off Mobile Money Unit

MTN Uganda plans to spin off MTN MoMo as a standalone entity to comply with the National Payment Systems Act 2020. EGM on 2 July 2025.

kenyanwallstreet.com/mtn-uganda-seeks-shareholder-approval-to-spin-off-mobile-money-unit

Opinion

How Higher Capitalisation Will Reshape Kenya's Banks, Economy

Fewer banks with more capital may catalyze the mobilization of domestic savings, boost national investment, support economic modernization.

kenyanwallstreet.com/how-higher-capitalisation-will-reshape-kenyas-banks-economy

On your watchlist

Yesterday's Poll Results

Would you trust an African ratings agency to give a fair credit risk assessment?

🟨🟨🟨🟨⬜️⬜️ Yes (41%)

🟩🟩🟩🟩🟩🟩 No (59%)

Keep up with what’s happening on our X and LinkedIn pages. Stay updated with the latest financial news on our website The Kenyan Wall Street.