Funds and Loans –Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya has announced plans to start tracking down Hustler Fund loan defaulters.
On Friday August 23, the former governor stated that a lot of money had been lost in the programme after many young men ran away with money in defaults.
And to ensure the cash is recovered and made useful elsewhere, Oparanya announced that his ministry is putting together a robust efficient plan on how to recover this.
“Government has ramped up efforts to track Hustler Fund defaulters who took a total of Sh 19 million as loans,” CS Oparanya said today.
The Hustler Fund Group loan product is the new, innovative product under the Financial Inclusion Fund commonly known as the Hustler Fund. This a revolutionary and transformational Fund was aimed to provide an access to responsible finance and low interest rates for personal, micro, small, and medium-sized enterprises (MSMEs) in Kenya.
