hustler fund loans Stories
According to the Auditor General’s report, of the Sh22.96 billion allocated to the Hustler Fund in the 2022/2023 budget, only Sh12 billion was spent.
The Auditor General’s report has exposed major gaps in the management of the fund, showing the State Department for Cooperatives only spent Sh12 billi...
Data from the State Department for Micro, Small, and Medium Enterprises (MSMEs) released in September shows more than 50 per cent of Hustler Fund borr...
Auditor General Nancy Gathungu told MPs that there was no proof the borrowers were untraceable or incapable of repayment, raising concerns about trans...
It was found that the department has no internal information management system to handle loan records, disbursements, repayments, withdrawals of savin...
The Commodities Fund recorded the highest loan defaults, writing off Sh12.36 billion in loans extended to sugar companies.
Findings indicate that thousands of borrowers were either below the legal age of 18 or had not yet been born when the funds were disbursed.
Susan Mang'eni, the PS for the State Department of MSMEs confirmed that these two million borrowers have achieved higher credit scores by repaying the...
Kenya Kwanza had pledged to set aside Sh50 billion annually for the Hustler Fund, but allocated only Sh20 billion to the fund in its first budget.
Despite the widespread uptake of the Hustler Fund, loan repayment rates have not kept pace, prompting the government to revise the terms of repayment.
The President noted that repaying overdue amounts is key to unlocking enhanced benefits under the newly introduced Bridge Loan programme.
The new Bridge Loan product rewards borrowers who demonstrate good borrowing behaviour with enhanced loan limits and longer repayment terms.
This comes after the government declared plans to recover Sh7 billion from 13 million loan defaulters by targeting their M-Pesa accounts and airtime b...
Seeking to onboard retail and small-scale investors to the bond market, the platform will allow them to acquire government securities for as little as...
The repayment rate for the loan amount is 77 per cent, meaning that at least 11.4 billion is in default.
Muslim leaders had earlier expressed concerns that the Hustler fund is not Muslim friendly.
The President says the fund has saved Kenyans from the predatory lending witnessed on digital platforms, with some denied access to funding in the est...
