When President William Ruto campaigned for office in 2022, he branded himself as the “hustler’s champion”, who would flip the economic script in favor of the poor. Lifting the ordinary Kenyan from poverty through bold reforms known as Bottom Up Economic Model Agenda. Nearly three years later, the promise largely remains a promise while ordinary Kenyans struggle under the weight of rising taxes, higher living costs, and unmet expectations with 75.0% of Kenyans believing that their financial situations have worsened since President Ruto assumed office as per the TIFA research conducted in May 2025 .
At the heart of Ruto’s economic vision was the Hustler Fund, designed to give small businesses affordable loans. While more than 25.8 million Kenyans have accessed it and 65.9 billion disbursed, the fund has suffered from poor repayment rates, budget cuts, and is now haunted by bad loans worth over Kshs 6.0 billion. What began as a lifeline for micro-entrepreneurs is now looking more like a failed idea with rushed implementation without strong structures.
The housing program is another case where reality has not matched the rhetoric. The promise was to build 200,000 affordable units annually. Yet, only 140,000 units have been completed as at April 2025, a far cry from the half a million promised by now. The controversial Housing Levy has been heavily criticized for reducing workers’ incomes without delivering meaningful results. Despite claims of job creation by the government, official data shows the construction sector actually shrank in 2024 to a decline of 0.7% from 3.0 % growth in 2023 .
Perhaps the biggest disappointment lies in the rising cost of living. The very people Ruto vowed to protect the low-income earners are bearing the brunt of VAT hikes, especially on fuel, and new statutory deductions like the 2.75% SHA deductions. The government’s insistence on expanding tax collection, even from small earners, has only added to public anger with widespread protests against tax hikes in witnessed in 2024.
While President Ruto’s promises were ambitious, their execution has been inconsistent. The poor whom he vowed to uplift are feeling more burdened than ever. For economic reforms to succeed, they must be practical and transparent. Kenyans are increasingly demanding tangible results that leads to improved livelihoods. Ruto still has time to steer the course, but only by replacing rhetoric with accountability.
