Cooperative and MSMEs Cabinet Secretary Wycliffe Oparanya has made a U-turn regarding the Hustler Fund. Just two weeks ago, Oparanya criticized the fund, saying it was launched in a hurry without the proper legal structure. However, speaking at citizen Tv today he has vowed to pursue Kenyans who have defaulted on their loans from the fund through dialogue because they don’t intend to destroy hustler’s businesses.
Earlier Oparanya had revealed that his ministry is developing a system to track defaulters and ensure loan repayment. āYou will see someone knocking at your door and asking you to pay back the Hustler loan for the benefit of others,ā he said.
The CS acknowledged that while the Hustler Fund was an innovative idea to create wealth, 19 million out of 21 million borrowers failed to repay their loans. He emphasized the importance of repaying the funds to enable others to benefit. Oparanya also announced plans to reward good borrowers, noting that one person is now borrowing up to Sh2 million and running a successful business. He assured Kenyans that the government is committed to creating a conducive environment for business growth.
By Citizen