hustler fund loans Stories

No evidence to support Sh6 billion Hustler Fund write-off, Auditor General tells MPs
Lucy Mumbi  |  Jun 07, 2025

Auditor General Nancy Gathungu told MPs that there was no proof the borrowers were untraceable or incapable of repayment, raising concerns about trans...

CBK expands list of licensed digital lenders as review of 700 applications continues
Lucy Mumbi  |  Jun 05, 2025

In a statement on Thursday, CBK said the approvals are part of an ongoing review of over 700 applications it has received since March 2022.

World Bank delays Sh96.9 billion loan to Kenya over anti-corruption law standoff
Maureen Kinyanjui  |  Jun 05, 2025

The government now plans to borrow Sh591.9 billion from the local credit market to bridge a Sh876.1 billion budget deficit in the financial year start...

Why Kenya’s debt outlook is improving: Stronger shilling, weaker dollar, policy shifts drive decline
Alfred Onyango  |  Jun 04, 2025

According to Afreximbank's 2025 report on the state of debt burdens, a major external influence behind this shift is the changing economic policy envi...

Government launches national ID registration for 18-year-old secondary school students
Maureen Kinyanjui  |  Jun 03, 2025

The State Department for Immigration and Citizen Service said this will help students avoid delays in accessing tertiary education, job opportunities,...

Mobile ID registration to fast-track HELB loans, jobs for Kenyan students
Maureen Kinyanjui  |  Jun 03, 2025

The drive will help students avoid delays in accessing tertiary education, job opportunities, and financial support such as HELB loans after completin...

KUCCPS reopens final course revision window for 2024 KCSE candidates until June 7
Lucy Mumbi  |  Jun 01, 2025

The opportunity is also open to students who either missed the initial application or were unsuccessful in their first attempt, allowing them to submi...

Kenya’s loan defaults surge to Sh717.5bn as banks intensify recovery efforts amid financial strain
Lucy Mumbi  |  May 26, 2025

The CBK survey revealed that banks plan to ramp up loan recovery efforts in eight of the 11 economic sectors and maintain the current pace in the rema...

Availing of county budget details up, but key information remains hidden - survey
Alfred Onyango  |  May 23, 2025

Although more counties are releasing additional budget reports, the quality and comprehensiveness of these reports are not keeping pace.

Financial distress threatens devolution as counties struggle with bloated wage bills, delayed funds
Maureen Kinyanjui  |  May 20, 2025

A Senate Public Accounts Committee report based on the Auditor General’s 2023–24 audit showed that 36 counties had breached the legal ceiling on wage...

Kuscco executives took Sh192 million insider loans before dismissal
Maureen Kinyanjui  |  May 15, 2025

The highest loan was held by former Kuscco managing director George Ototo at Sh103.11 million. Former finance manager George Owino had borrowed Sh17.9...

HELB streamlines loan repayments for both local and overseas borrowers
Maureen Kinyanjui  |  May 08, 2025

Beneficiaries can now use the WorldRemit platform to settle their student loans from anywhere in the world.

Sh19 billion deficit, legal gaps lock out KMTC students from Helb loans
Lucy Mumbi  |  May 01, 2025

The final budget released to HELB by the National Treasury is earmarked for a predetermined number of students in universities and TVET institutions u...

Saudi Arabia, Qatar to settle Syria's outstanding arrears of around $15 million to World Bank
Reuters  |  Apr 27, 2025

The plans would be the first known instance of Saudi Arabia providing financing for Syria since Islamist-led rebels toppled former leader Bashar al-As...

HELB receives over 4,600 appeals from university students
Maureen Kinyanjui  |  Apr 18, 2025

HELB has processed over 109,000 funding requests from new students that had been delayed due to a High Court ruling in December 2024, which temporaril...

Court grants permission for Equity Bank to auction Moses Kuria's Kiambu property over Sh54m loan
Maureen Kinyanjui  |  Apr 08, 2025

The former Investments and Trade Cabinet Secretary did not contest the loan but explained that he had been unable to complete construction of the hous...

Treasury CS John Mbadi says Kenya's debt burden is suffocating the economy
Lucy Mumbi  |  Apr 06, 2025

The CS pointed to the misuse of short-term loans to fund long-term projects as one of the key mistakes that plunged the country into its current econo...

KMTC students to benefit from Sh500 million HELB funding as govt reinstates programme
Rachael Mutabasi  |  Mar 28, 2025

According to the KMTC CEO, the lack of funding placed a significant burden on students, particularly those from disadvantaged backgrounds.

Kenyans borrow Sh15 billion monthly as financial woes deepen - report
Maureen Kinyanjui  |  Mar 26, 2025

The report highlights that most borrowers seek these loans for survival rather than investment.

Banks raise loan margins as deposit rates decline
Maureen Kinyanjui  |  Mar 25, 2025

In February 2025 the lending margin rose to 6.65 percent, up from 6.59 percent in January and 6.44 percent in December.

HELB offers 80 per cent penalty waiver to loan defaulters who clear their debt in full
Maureen Kinyanjui  |  Mar 24, 2025

HELB has periodically introduced such waivers to encourage loan repayment among former beneficiaries who have struggled to meet their financial obliga...

Kenya yet to utilise Sh1.3 trillion in external loans - CS Mbadi
Maureen Kinyanjui  |  Mar 19, 2025

Treasury Cabinet Secretary John Mbadi revealed that these unutilized funds continue to accrue commitment and interest fees.

IMF urges Kenya to balance loans acquisition with sound economic policies
Charles Adinda  |  Mar 14, 2025

Teferra reaffirmed the IMF's commitment to deploy the Extended Fund Facility, Extended Credit Facility and Rapid Credit Facility programmes to support...

Former Universities Fund CEO Geoffrey Monari appointed new Helb boss
Lucy Mumbi  |  Mar 13, 2025

Monari takes over from Charles Ringera, whose decade-long tenure ended in December last year.

Not a choice anymore? Why borrowing is becoming a necessity in Kenya
Alfred Onyango  |  Mar 12, 2025

Slightly over one-third of Kenyans have increased their borrowing, a trend that aligns with rising living costs and delays in income.

Treasury admits to Sh220 billion excess borrowing citing delays in foreign financing
Lucy Mumbi  |  Mar 10, 2025

Legislators questioned the Treasury’s commitment to reducing public debt and adhering to its own policies.

Gathungu expresses doubt over recovery of Sh8.7 billion given out in Hustler Fund loans
Maureen Kinyanjui  |  Mar 08, 2025

It was found that the department has no internal information management system to handle loan records, disbursements, repayments, withdrawals of savin...

Hustler, Uwezo, and other funds struggle with billions in unpaid loans
Maureen Kinyanjui  |  Mar 04, 2025

The Commodities Fund recorded the highest loan defaults, writing off Sh12.36 billion in loans extended to sugar companies.

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