President William Ruto on Wednesday chaired the Presidential Private Sector Roundtable in Nairobi County, highlighting the critical role of collaboration between government and the private sector in driving Kenya’s socio-economic transformation.
Addressing industry leaders and stakeholders, Ruto reaffirmed the government’s commitment to advancing a transformative partnership with the private sector. “We have convened here this morning to reaffirm, renew, and advance the transformative partnership between the government and the private sector,” he said.
He emphasized that this partnership is essential for achieving sustainable national development, especially in key economic sectors such as agriculture, ICT, financial services, and tourism. Agriculture, which remains the backbone of Kenya’s economy, employs over 40 percent of the population. In the ICT and financial services sectors, Ruto noted Kenya’s continued leadership in innovation.
The President also pointed to tourism as a clear indicator of economic recovery, citing that the accommodation and food services sector grew by 26.6 percent in the second quarter of 2024. He attributed this growth to strategic investments and renewed confidence in Kenya’s economic stability.
Ruto used the platform to defend the much-debated Hustler Fund, describing it as a successful model of financial inclusion and empowerment. “I take pride in the success of the Hustler Fund, under the Financial Inclusion Fund, a pioneering empowerment initiative,” he said.
He revealed that the Fund has so far disbursed over Sh72 billion to 26 million Kenyans. Additionally, it has mobilized more than Sh5 billion in savings and provided critical working capital to millions of micro-entrepreneurs across the country.
According to Ruto, these figures are a testament to the transformative impact of targeted financial support on small businesses, many of which form the backbone of Kenya’s informal economy.
The roundtable underscored the government’s intention to maintain an open-door policy with the private sector, fostering a conducive environment for investment, innovation, and inclusive growth. As Kenya looks to accelerate its economic rebound, Ruto reiterated that sustained public-private dialogue is key to unlocking the country’s full development potential
