President William Ruto has appointed Dr. Habil Olaka as the new Non-Executive Chairperson of the Advisory Board of the Financial Inclusion Fund, commonly known as the Hustler Fund. Olaka, the immediate former Chief Executive Officer of the Kenya Bankers Association (KBA), will serve a three-year term effective February 21, 2025.
The appointment, announced in a gazette notice dated February 21, comes as President Ruto revokes the appointment of Irene Muthoni Metha Karimi, who had held the position since January 2023 when the fund was launched. She was initially set to serve for three years, but her tenure has been cut short as the government moves to restructure the leadership of the fund.
Olaka brings a wealth of experience in the financial sector, having served as KBA CEO from 2010 until his retirement in March 2024. Under his leadership, KBA played a critical role in advocating for policies that shaped Kenya’s banking industry. His appointment signals the government’s intent to strengthen the Hustler Fund’s governance and expand financial inclusion efforts.
These leadership brings changes in President Ruto’s administration and efforts to align key institutions with its policy priorities. With Olaka at the helm of the Hustler Fund advisory board, the focus will likely be on enhancing financial accessibility for small businesses and individuals, a key pillar of Ruto’s economic agenda.
