HUSTLER FUND – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

State seeks Ksh300M to pursue recovery of defaulted loans under Hustler Fund

Sacco ReviewMarch 24, 202603 mins

The State Department for Micro, Small and Medium Enterprises is seeking Ksh 300 million in a supplementary budget to pursue recovery of defaulted loans under the Hustler Fund, with Ksh12.5 billion still unpaid by borrowers. According to the department, the funds will primarily be used for awareness and sensitization campaigns aimed at encouraging defaulters to…

Inclusion Fund Chief Executive Officer Henry Tanui when he appeared before the National Assembly's special Funds Accounts Committee

MPs demand recovery of Ksh 12 Billion from Hustler Fund defaulters

Sacco ReviewMarch 6, 202604 mins

The National Assembly’s Special Funds Accounts Committee has demanded the tracking down of defaulters of the Financial Inclusion Fund, popularly referred to as the Hustler Fund, to recover billions of unpaid loans. In a session held at Bunge Tower, the lawmakers engaged the Financial Inclusion Fund Chief Executive Officer, Henry Tanui, and other officials on…

Gov’t to lock out Hustler Fund loan defaulters from bank, SACCO loans

Sacco ReviewSeptember 11, 2025September 11, 202503 mins

The government has announced its intention to lock out Kenyans who have failed to repay Hustler Fund loans from accessing credit from banks, SACCOs, and other financial institutions. This was announced by the Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya in Mombasa during the Kenya Public-Private Sector MSMEs Dialogue, which brought together more than…

President Ruto defends Hustler Fund amid claims of high default rates

Sacco ReviewAugust 9, 202503 mins

President William Ruto has strongly defended the Hustler Fund against mounting criticism over its repayment performance, asserting that the initiative has transformed access to credit for millions of Kenyans. Speaking at the Presidential Private Sector Roundtable in Nairobi Wednesday, Ruto dismissed claims from opposition leaders and experts that the fund is plagued by high default…

CS Oparanya dismisses KHRC report recommending scrapping of Hustler Fund

Sacco ReviewAugust 5, 202505 mins

Cabinet Secretary in the Ministry of Co-operatives, Wycliffe Oparanya has dismissed a new report by the Kenya Human Rights Commission, (KHRC) that had recommended scrapping of Hustler Fund. The report released on 4th August described the fund as a politically expedient but economically disastrous initiative that has failed to deliver on its promises of financial…

PS defends move to seek additional funding of Ksh5 billion for the Hustler Fund

Sacco ReviewMay 26, 202503 mins

State Department for Micro, Small, and Medium Enterprises (MSMEs) Principal Secretary Susan Mang’eni, has defended the department’s move to seek additional funding of Ksh5 billion for the Hustler Fund. The PS while speaking during the 42nd Annual Institute of Certified Public Accountants of Kenya (ICPAK) Seminar in Mombasa, Mang’eni underscored the fund’s importance in providing…

MPs Directs Hustler Fund Department to Submit List of Defaulters

Sacco ReviewOctober 2, 202404 mins

Members of Parliament have instructed the Financial Inclusion Fund, popularly known as the Hustler Fund, to submit a comprehensive list of loan defaulters. The MPs under National Assembly Special Funds Accounts Committee want the committee to present comprehensive details of the defaulters. The Committee which met Principal Secretary Susan Mang’eni and Acting Chief Executive Officer…

Ruto advised to appoint Co-op CS with experience in sector

Sacco ReviewJuly 22, 202405 mins

As the President plans to reconstitute his cabinet, members of a Sacco have urged him to appoint a Cabinet Secretary with expertise in managing cooperatives. Members of Anchor Premier Sacco have expressed that appointing someone with experience in managing cooperative societies to lead the Ministry of Cooperatives and Micro, Small, and Medium Enterprises Development would…

Transition technical challenges made some customers get Hustler loans without IDs, says KCB

Sacco ReviewJuly 16, 2024July 17, 202405 mins

The Kenya Commercial Bank (KCB) has recently responded to Auditor General Dr. Nancy Gathungu’s report which showed that some customers received Hustler loans without Identification Cards noting that the problem was caused by technical hitch during transition. Through a statement from the bank Managing Director Mrs Annastacia Kimtai, KCB indicated that the auditor had shared…

No coin of Hustler Fund has been lost, CS Chelugui says

Sacco ReviewJuly 9, 202406 mins

Cabinet Secretary Ministry of Cooperatives and MSME Development Simon Chelugui has maintained that no money has been lost from Financial Hustler Fund. The CS who issued a press statement on Tuesday July 9 said the Ministry has all documentation in connecting with the loans issued through Hustler Fund. Auditor General Dr Nancy Gathungu had issued…