Sema Kimeumana! MPs demand details of Hustler Fund defaulters

A committee of the National Assembly wants the House to be furnished with a list of Hustler Fund loan defaulters, their names and amounts owed.

The Special Funds Accounts Committee sought the details from the management of the Financial Inclusion Fund (FIF) following revelations that the Hustler Fund has a default rate of 78 per cent.

(Photo Courtesy)

Fund’s acting chief executive officer Elizabeth Nkukuu, says they are seeking to recover Sh7 billion owed by 13 million Kenyans who have defaulted.

She added that they were considering enforcement measures via mobile money accounts and mobile airtime deductions.

“We are exploring the possibility of recovering the funds from Mpesa or airtime linked to defaulters. This is still under deliberation as we work towards securing the necessary legal provisions,” she said.

Legislators expressed concerns over the authenticity of the reported default figures. The request by the Fatuma Zainab-led committee comes on the heels of an announcement by Cooperative and MSMEs Cabinet Secretary Wycliffe Oparanya that he will be going after defaulters.

Oparanya said his ministry is developing a system to track Kenyans who have not repaid their loans.

“You will see someone knocking at your door and ask, can you pay the Hustler loan back for the benefit of others,” he said.

This article was first published on the Star Kenya website