Pay Your hustler fund Or Else It Will Be Deducted From Your Mpesa
The government is considering aggressive measures to recover Ksh.7 billion in defaulted Hustler Fund loans. Over 13 million Kenyans have yet to repay loans issued through the fund, causing concern about the potential financial loss.
Speaking before the National Assembly’s Special Funds Account Committee, Financial Inclusion Fund (Hustler Fund) acting CEO Elizabeth Nkuku revealed that many defaulters are individuals who borrowed during the initial months of the fund’s operation. Despite numerous reminders, they have failed to repay, with most capable of doing so.
Nkuku highlighted that the government has access to critical data like M-Pesa numbers and national IDs of the defaulters, many of whom regularly transact significant amounts—averaging Ksh.21,000—indicating that they are financially able but unwilling to repay.
Nkuku further explained that the government might resort to raiding defaulters’ M-Pesa accounts or deducting airtime to recover the loans. “We are in the process of considering appropriate legal provisions to recover these funds,” she stated.
Committee members, including Migori Woman Representative Fatuma Mohammed and Kabuchai MP Majimbo Kalasinga, raised concerns about the lack of insurance for the disbursed funds, questioning the security of the money loaned to Kenyans. Nkuku confirmed that the loans were uninsured, further justifying the push for forceful recovery.
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Pay Your hustler fund Or Else It Will Be Deducted From Your Mpesa
