Thursday, July 11, 2024 – The Government of President William Ruto has changed how to access the scandalous Hustler Fund.
In a statement, Cooperatives and
MSMEs Cabinet Secretary Simon Chelugui announced that Kenyans will now be able
to access Hustler Fund services through the eCitizen platform.
This integration is expected to
streamline service delivery and improve recovery measures for the fund.
The integration with eCitizen
is expected to not only improve access but also address some of the
challenges related to loan recovery.
Chelugui highlighted the modest
yet effective recovery actions taken by the government compared to other digital
lenders.
"Our recovery measures and actions are modest relative to what other digital lenders are doing.
"We are
also dealing with issues of collateral; the majority of those digital borrowers
had been blacklisted two years ago. We have been able to rehabilitate
approximately 8 million of them through the Hustler Fund," he stated.
He emphasized the broader
impact of these efforts, noting that, "Other than just sustaining the
fund; we are responsible for bringing these 8 million Kenyans on board. Imagine
an economy where 8 million of us are closed out."
The CS further revealed
that the Hustler Fund has brought 22 million Kenyans into the financial
system, many of whom never had accounts or any financial relationship with
lenders before.
"We have 22 million on
board because of the relaxed eligibility requirements and the recovery
measures. That does not mean we are not keen on recovering the money, these are
taxpayers' money," he explained.
This comes despite the recent
audit revealing a big scandal in the Hustler Fund where billions have been lost
and no one can explain it.
The Kenyan DAILY POST
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