Government through the Cooperative and MSMEs ministry has put kenyans who have Hustler fund debts on notice in a bid to push for repayment of the loans.
According to Cooperative and MSMEs Cabinet Secretary Wycliffe Oparanya, government will be going after Kenyans who have defaulted in repaying debts from the Hustler Fund
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The broad based government minister said that his ministry is developing a system to track Kenyans who have not repaid their loans and help identify their homes and residences to push them to repay.
“You will see someone knocking at your door and ask, can you pay the Hustler loan back for the benefit of others,” the Minister said at Small and Medium Conference in Nairobi.
The minister revealed that a total of nineteen million kenyans have disappeared with loans borrowed from hustler fund and the government will do everything possible to retrieve this money soon.
“The problem we have had with the fund is that during the first round, 21 million people borrowed money but out of this number, 19 million disappeared with the money. Two million are borrowing regularly.”
To ensure that there is compliance of repayment, the minister added that the ministry shall soon be awarding Kenyans who are good borrowers in a bid to encourage repayment of hustler fund loans.
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There is one who is now borrowing up to Sh2 million and doing very good business. This public money which should be borrowed and repaid so that other people benefit from it. For those 19 million, I am coming for you to make sure that you pay so that others can benefit, even yourself can benefit