CS OPARANYA ISSUES STERN WARNING TO HUSTLER FUND DEFAULTERS
Cooperative and MSMEs Cabinet Secretary Wycliffe Oparanya has said he is going to pursue those Kenyans who have defaulted in repaying loans from the Hustler Fund.
Speaking at a Small and Medium Conference in Nairobi on Friday, Oparanya said his ministry was at the leading edge in developing a system to track Kenyans who had not paid back their loans.
“You will see someone knocking at your door and ask, can you pay the Hustler loan back for the benefit of others,” said the CS.
He added that the Hustler Fund was an innovation idea that promised to create wealth and job opportunities.
“The challenge we have had in the fund is that in the first round, 21 million people borrowed some money but out of this number, 19 million disappeared with the money. Two million are borrowing regularly,” he said.
Oparanya further announced that his ministry shall soon be awarding Kenyans who are good borrowers.
“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,” he explained.
“For those 19 million, I am coming for you to make sure that you pay so that others can benefit, even yourself can benefit.”
He said that once one borrowed and did not pay, they couldn’t be loaned again.
“I want you to borrow again and again so that you can develop yourselves. As the government tries its bit, you must also do the same,” he said.
He said the government is committed to creating an enabling environment for the people to do business.
“It is you people who can create wealth and employment in this country,” said.
The CS noted that among the 20 million working population, 15 million are in Small and Medium Enterprises.
“The government can only employ one million people and we still have four million who are jobless,” he noted.
