Business

CS Oparanya to Hustler Fund Defaulters: “I am Coming For You”

The government has initiated plans to track down defaulters of the Hustler Fund to recover unpaid loans. A National Treasury report reveals that 94% of the 22 million borrowers defaulted on their repayments, leading to a steep decline in disbursements. In 2024, government lending through the Hustler Fund plummeted by 93.3%, dropping to Ksh800 million. Cabinet Secretary for Co-operatives and Micro, Small, and Medium Enterprises (MSMEs), Wycliff Oparanya, highlighted the adverse impact of defaults on small businesses. “For those 19 million people, I am coming for you to make sure you pay so that other borrowers can benefit too,” heThe post CS Oparanya to Hustler Fund Defaulters: “I am Coming For You” appeared first on Nairobi Wire.

The government has initiated plans to track down defaulters of the Hustler Fund to recover unpaid loans. A National Treasury report reveals that 94% of the 22 million borrowers defaulted on their repayments, leading to a steep decline in disbursements. In 2024, government lending through the Hustler Fund plummeted by 93.

3%, dropping to Ksh800 million. Cabinet Secretary for Co-operatives and Micro, Small, and Medium Enterprises (MSMEs), Wycliff Oparanya, highlighted the adverse impact of defaults on small businesses. he stated.

CS Oparanya emphasized that the default crisis has limited short-term loan access for small businesses, slowing their growth and hindering economic development. The CS noted that recovered funds would be redirected to borrowers with good credit scores..