A committee of the National Assembly requests that the House be provided with a list of Hustler Fund loan defaulters, including their names and sums owing.
The Special Funds Accounts Committee requested information from the Financial Inclusion Fund (FIF) management following disclosures that the Hustler Fund has a 78% default record.
Elizabeth Nkukuu, the Fund’s acting CEO, said they are looking to reclaim Sh7 billion owing by 13 million Kenyans who have defaulted.
She added that they were considering enforcement measures via mobile money accounts and mobile airtime deductions.
“We are exploring the possibility of recovering the funds from Mpesa or airtime linked to defaulters. This is still under deliberation as we work towards securing the necessary legal provisions,” she said.
Legislators expressed concerns over the authenticity of the reported default figures. The request by the Fatuma Zainab-led committee comes on the heels of an announcement by Cooperative and MSMEs Cabinet Secretary Wycliffe Oparanya that he will be going after defaulters.
Oparanya said his ministry is developing a system to track Kenyans who have not repaid their loans.
