Written by Monicah Makali
Low loan limits in the Hustler Fund public loans portal have led many Kenyans to default on loan repayments since the inception of the program two and a half years ago.
Speaking in Machakos during a fact-finding exercise conducted in the county this week, Elizabeth N. Nkukuu, CFA, the Hustler Fund CEO, noted that the majority of loan defaulters are low-income Kenyans who only qualify for small loan amounts and struggle to repay.
She noted that over 26 million Kenyans have so far taken loans from the Hustler Fund, amounting to KSh 65 billion.
According to the CEO, more than 800,000 Machakos residents have benefited from the Hustler Fund loans, with over KSh 4 billion saved by Kenyans who have repaid their loans across the country.
The exercise brought together loan beneficiaries from across the country to share their views on how the program is being run and how beneficial it has been.
