Saturday, August 24, 2024 - Cooperatives Cabinet Secretary Wycliffe Oparanya has told Hustler Fund loan defaulters to repay their loans before he catches them.
While addressing delegates
during the Kenya Private Sector Alliance (KEPSEA) annual conference, Oparanya
disclosed the government’s intention to track all hustler fund defaulters.
He revealed that 19
million of the 21 million Kenyans who borrowed the hustler fund defaulted
on the loan.
According to the CS, the Hustler
Fund was public money that should be borrowed and repaid to allow other
applicants to also benefit from it.
“This alert fund was very
innovative and digital but the problem we have had with hustler fund is that in
the first round, 21 million people borrowed it but out of that, 19 million people
disappeared with the money and only 2 million are remaining,” Oparanya
revealed.
The CS revealed that the
government was in the process of coming up with a digital system for tracking
the location of the Fund defaulters.
“So those 19 million people, I
am coming for you to make sure that you pay so that others can benefit and even
yourselves can benefit,” Oparanya stated.
“We are coming up with a system
that will now track you to know where you are, you will soon see someone
knocking on your door telling you to pay back the hustler fund.”
Similarly, CS Oparanya disclosed
that the government was planning to reward all regular borrowers who had not
yet defaulted on the loan.
According to the former
Governor, there were Kenyans who had already been rewarded with a loan limit of
up to two million shillings for borrowing regularly.
Kenyans will be waiting to see
what will happen considering that he is the one who incited Kenyans not to pay
the Hustler Fund loans before President William Ruto put him in charge.
The Kenyan DAILY POST
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