The suspension comes as the Treasury works on transitioning the scheme to a new public-private venture, the Kenya Credit Guarantee Scheme Company (KCG...

The delay stems from the disruption caused to the 2024/2025 academic calendar by lecturer strikes last year, which led to an extended first semester a...

Nyakang'o urged counties to ensure compliance with these legal provisions to promote prudent use of public funds.

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...

The new provisions aim to curb exploitative practices in the microfinance sector, offering enhanced safeguards for borrowers and guarantors.

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.

While the government has pledged to refine the system, trust among students, parents, and stakeholders remains low.

Gathungu highlighted concerns over the improper utilisation of billions in loans and recommended measures to prevent avoidable financial burdens.

The report attributes the shortfall to the shift from manual to digital loan applications, which disrupted the usual loan processing cycle.

However, Education Cabinet Secretary Julius Ogamba announced that the government plans to modify the new university funding model.

Despite the widespread uptake of the Hustler Fund, loan repayment rates have not kept pace, prompting the government to revise the terms of repayment.

Governance experts are concerned that the borrowing, combined with the delays, could lead to serious financial strains on the county governments.

The report emphasised the urgency of accelerating structural reforms, particularly in light of Kenya’s fiscal constraints.

Kenya has managed to stabilise its foreign exchange rate, boost hard currency reserves held by the Central Bank and lower inflation this year.

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.

Gachora acknowledged that many borrowers continue to face financial strain due to rising living costs.

Principal repayments exceeded Sh500 billion in the past year alone, highlighting Kenya's growing debt burden.

Out of the total households surveyed, the trend shows a 7.9 per cent dip in the savings culture of Kenyans from 2021, the previous survey period, to d...

Gathungu pointed out that her office was unable to obtain all the necessary documents to link the borrowed funds to specific projects.