"I am coming for you," - OPARANYA puts Hustler Fund defaulters on notice as Government officially starts tracking over 19 million defaulters.

Tuesday, January 7, 2025 - Co-operatives and Micro, Small, and Medium Enterprises (MSMEs) Cabinet Secretary Wycliffe Oparanya has announced that the government has begun tracking defaulters of the financial inclusion fund, popularly known as the “Hustler Fund,” to recover disbursed funds.

Speaking on Monday, Oparanya said 94 percent of the 22 million borrowers defaulted in making their payments.

Oparanya stated that the defaults have limited small businesses' access to short-term loans, thereby hindering their growth.

“For those 19 million people, I am coming for you to make sure that you pay so that other borrowers can benefit too,” he said in a statement.

As of November 30, 2023, the fund had seen high uptake, with the government reporting disbursements of Sh39.7 billion to 21.8 million people and mobilizing Sh2 billion in savings. Total repayments stood at Sh28.75 billion.

In December last year, President William Ruto announced that the fund had disbursed Sh60 billion to Kenyans since its launch in 2022.

The impressive 2023 performance prompted President Ruto to announce, during the fund's first-anniversary launch, an increase in the borrowing limit by up to 100%.

The Kenyan DAILY POST

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