A majority of micro, small and medium enterprises (MSEs) operating in the Kenyan market borrow cash from the State-backed financial inclusion fund, popularly known as Hustler Fund, for consumption in a trend that works to defeat the purpose for which the facility was unveiled.
The FinAccess Micro and Small Enterprises Tracker survey published by the Central Bank of Kenya (CBK) reveals that 68.6 percent of owners who tapped into the kitty during the eight -month period to June this year used the money for household purposes while only 18.1 percent ploughed the resource into business use.
