Cooperative and MSMEs Cabinet Secretary Wycliffe Oparanya has announced that he will be going after Kenyans who have defaulted in repaying loans from the Hustler Fund.
Speaking at a Small and Medium Conference in Nairobi on Friday, Oparanya said his ministry is developing a system to track Kenyans who have not repaid their loans.
“You will see someone knocking at your door and ask, can you pay the Hustler loan back for the benefit of others,” he said.
The CS said the Hustler Fund was an innovative idea, which promised to create wealth and job opportunities.
“The problem we have had with the fund is that during the first round, 21 million people borrowed money but out of this number, 19 million disappeared with the money. Two million are borrowing regularly,” he stated.
Oparanya further announced that his ministry shall soon be awarding Kenyans who are good borrowers.
“There is one who is now borrowing up to Sh2 million and doing very good business. This public money which should be borrowed and repaid so that other people benefit from it,” he explained.
“For those 19 million, I am coming for you to make sure that you pay so that others can benefit, even yourself can benefit.”
He noted that when one borrows and does not repay, they cannot be loaned again.
“I want you to borrow again and again so that you can develop yourselves. As the government tries its bit, you must also do the same,” he added.
He said the government is committed to creating a conducive environment for people to do business.
“It is you, people who can create wealth and employment in this country,” said.
The CS noted that among the 20 million working population, 15 million are in Small and Medium Enterprises.
“The government can only employ one million people and we still have four million who are jobless,” he noted.
