Confusion as Ruto Contradicts CS Oparanya on Hustler Fund Defaulters.
Confusion as Ruto Contradicts CS Oparanya on Hustler Fund Defaulters: Speaking on Saturday, President William Ruto on Saturday lauded Kenyans for making use of the Hustler Fund to borrow loans and repay them on time.
The Head of State who addressed attendees during Cabinet Secretary Wycliffe Oparanya’s homecoming in Kakamega, revealed that 80 per cent of the borrowers had successfully repaid their loans.
Because of the positive perfomed, Ruto revealed the government’s plan to add Ksh3 billion to motivate Kenyans and attract more borrowers.
The President Stated, “Fifty thousand Kenyans wake up every morning to borrow more from the Hustler Fund. That is the programme you are going to learn,”
“So far they have borrowed Ksh52 billion and these people are very good because they repay it. 80 per cent have repaid but there are a few who are yet to repay,”
Adding: CS, I have allocated an additional Ksh3 billion to the Hustler Fund and I have already released Ksh1 billion to the State Department responsible for managing the Fund,”
This comes after Oparanya Issued a warning to all defaulters, during the Kenya Private Sector Alliance (KEPSEA) Annual Conference.
He disclosed that out of the 21 million borrowers, 19 million of them had defaulted, which makes the default rate 90.48 per cent.
He stated, “So those 19 million people, I am coming for you to make sure that you pay so that others can benefit and even yourselves can benefit,”
“We are coming up with a system that will now track you to know where you are, you will soon see someone knocking on your door telling you to pay back the Hustler Fund,” he added.
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