hustler fund loans Stories

Over 23 million Kenyans registered for SHA, but more than 17 million aren’t contributing to the fund
Charity Kilei  |  Aug 10, 2025

Private hospitals are increasingly rejecting SHA coverage for civil servants and demanding cash payments, a repeat of the NHIF era when delayed paymen...

Borrowers exposed to costly loans despite banks cutting interest rates by one per cent
Maureen Kinyanjui  |  Aug 07, 2025

According to data published by the Central Bank of Kenya (CBK), the average overall lending rate across 38 commercial banks dropped slightly to 15.78...

Oparanya faults counties for SACCO liquidity crisis, says non-remittance crippling operations
Lucy Mumbi  |  Aug 06, 2025

CS Wycliffe Oparanya said county administrations have withheld millions of shillings deducted from Sacco members, especially medical staff, plunging s...

President William Ruto defends Hustler Fund, says KHRC report politically motivated
Maureen Kinyanjui  |  Aug 06, 2025

President William Ruto criticised those questioning the fund’s impact, accusing them of misrepresenting facts and failing to understand the economic c...

HELB offers 80 per cent penalty waiver to loan defaulters in new recovery push
Rachael Mutabasi  |  Aug 06, 2025

The waiver applies only to those who pay their full arrears at once through the HELB portal, mobile app, or USSD code *642#.

Sh438 million water agency loan default piles pressure on taxpayers eight years on, Auditor General warns
Lucy Mumbi  |  Aug 03, 2025

Auditor General Nancy Gathungu, in her audit report for the financial year ending June 2024, disclosed that the authority, tasked with overseeing the...

HELB disbursements to begin August 15 after Sh5 billion funding boost
Maureen Kinyanjui  |  Aug 01, 2025

Education Cabinet Secretary Julius Migos Ogamba said the move is aimed at ensuring that all eligible students receive financial support and that no on...

New Bill proposes deposit guarantee, liquidity regulation in SACCOs
Maureen Kinyanjui  |  Jul 25, 2025

The proposed changes, introduced through the Sacco Societies (Amendment) Bill, 2025 by Majority Leader Kimani Ichung’wah, aim to offer financial prote...

World Bank withholds Sh96.93 billion loan to Kenya over delayed reforms
Lucy Mumbi  |  Jul 24, 2025

The loan, part of the World Bank’s Development Policy Operations (DPO) facility, was expected this month but now hangs in the balance over unmet refor...

Kenya leads in mobile money borrowing as Sub-Saharan Africa leans on informal loans - World Bank Report
Rachael Mutabasi  |  Jul 23, 2025

In 2024, 32 per cent of Kenyan adults borrowed from mobile money providers, the highest share in the region.

World Bank unveils Sh16.5 billion initiative to empower Kenya’s vulnerable groups
Maureen Kinyanjui  |  Jul 22, 2025

According to the World Bank, the funds will go through existing government systems, particularly the National Safety Net Program, to provide structure...

HELB turmoil deepens as Chairperson Ekwee Ethuro, CEO Geoffrey Monari clash over Sh12.9 billion shortfall
Maureen Kinyanjui  |  Jul 18, 2025

In an interview on Thursday, Ethuro claimed HELB is financially healthy, dismissing reports of a funding crisis. But in a separate appearance before M...

World Bank assures Kenya’s debt sustainable if properly managed
Rachael Mutabasi  |  Jul 16, 2025

World Bank Country Director for Kenya, Qimiao Fan, emphasised that the sustainability of Kenya’s debt should not be judged only by the current numbers...

HELB writes off Sh347 million after identifying over 2,600 deceased loan defaulters
Maureen Kinyanjui  |  Jul 15, 2025

The recovery follows a joint effort with Civil Registration Services, which enabled more efficient verification of death records.

HELB tightens portal rules, orders minor applicants to update national ID details
Maureen Kinyanjui  |  Jul 12, 2025

HELB said applicants who registered using their KCSE index number must now revise their account details by adding their national ID number and first n...

Tax relief boost as KRA slashes fringe benefits rate for workers
Maureen Kinyanjui  |  Jul 11, 2025

Fringe benefits tax applies to employees, directors, or their relatives who receive welfare perks such as low-interest loans from their employers. The...

Economic hardships, not just high interest rates, driving digital loan defaults among Kenyan youth
Alfred Onyango  |  Jul 10, 2025

Despite their current challenges, most respondents said they do not intend to default permanently, expressing fear of being blacklisted by the Credit...

TTC student loans proposal unsustainable without dedicated sector budget, HELB warns
Lucy Mumbi  |  Jul 07, 2025

HELB argues that the current budget barely supports university and TVET students, and that including additional beneficiaries would require new fundin...

How to hide apps on your phone: A detailed guide for Android, iPhone users
Margaret Wanjiru  |  Jul 04, 2025

Hiding apps can offer greater privacy, organisation, and peace of mind, especially for those sharing devices with children or co-workers.

HELB opens loan and scholarship applications for university, TVET students until August 31
Lucy Mumbi  |  Jul 02, 2025

In the notice, HELB emphasised inclusivity by reiterating the urgency and commitment to supporting students from all backgrounds.

Loan interest rates drop as CBK moves to scrap risk-based pricing
Maureen Kinyanjui  |  Jul 02, 2025

The move follows a series of benchmark rate cuts by CBK over the past year and a half, including the latest reduction in June, which brought the Centr...

Farmers abandon Hustler Fund as CBK report shows shift to banks and digital loans
Lucy Mumbi  |  Jun 23, 2025

The CBK survey shows a significant shift in farmers’ borrowing habits, with more now opting for commercial banks and digital loan platforms to fund th...

President Ruto vows to go after schools defying fee payment on eCitizen
Lucy Mumbi  |  Jun 19, 2025

President William Ruto urged parents to insist on paying fees digitally, hailing schools that have adopted the platform as champions of accountability...

PS Susan Mang’eni denies Hustler Fund misuse, reports Sh4.8 billion savings
Maureen Kinyanjui  |  Jun 19, 2025

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.

"Where did the money go?" Hustler Fund faces scrutiny over Sh8 billion gap
Maureen Kinyanjui  |  Jun 19, 2025

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...

HELB resumes disbursements to KMTC students after Treasury releases Sh500 million
Lucy Mumbi  |  Jun 18, 2025

According to KMTC Chief Executive Officer, Dr Kelly Oluoch, the HELB portal is now open for applications and urged eligible students to apply before t...

Accountants, doctors, lawyers and engineers biggest defaulters of HELB loans – CEO Geoffrey Monari
Maureen Kinyanjui  |  Jun 17, 2025

According to HELB CEO Geoffrey Monari, accountants top the list of non-payment, with only 11 per cent of the active ones repaying their loans. Out of...

Chinese team to exit in December as Kenya Railways marks eight years of SGR operations
Maureen Kinyanjui  |  Jun 12, 2025

Managing director Phillip Mainga on Tuesday announced that Kenya has already assumed close to full operations of the SGR and is now focusing on empowe...

Kenya's loan defaults hit 20-year high as economic woes deepen
Maureen Kinyanjui  |  Jun 12, 2025

According to the CBK, the ratio of non-performing loans (NPLs), those unpaid for over 90 days, rose to 17.6 per cent by June 2025, up from 17.4 per ce...

SHA under fire: Kenyans decry annual payments, link to Hustler Fund raises alarm
Charity Kilei  |  Jun 11, 2025

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...

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