I’m Coming for You!” CS Oparanya Warns 19 Million Hustler Fund Defaulters

Wycliffe Oparanya, the Cabinet Secretary for Cooperatives and MSMEs, has warned those who have defaulted on their Hustler Fund loans. Oparanya is determined to ensure that these defaulters repay their loans so that the fund remains sustainable and accessible for other needy Kenyans.

Speaking at the annual SME Conference on Friday, Oparanya revealed that efforts are underway to track down individuals who still haven’t needed to settle their debts. While he commended the 2 million Kenyans who have responsibly repaid their loans, he expressed concern over the 19 million who have yet to do so.

“The Hustler Fund was a brilliant digital innovation,” Oparanya explained. “But out of the 21 million people who borrowed in the first round, 19 million have vanished without repaying. Meanwhile, 2 million continue to borrow regularly. We plan to reward good borrowers, but remember; this is public money. It needs to be repaid so that others can benefit.”

With a determined tone, he added, “To those 19 million, I’m coming for you. We are developing a system to track you down. You’ll soon have someone knocking on your door. Please repay the Hustler Fund so others can benefit from it. While the government is doing its part, we must do ours too.”

In addition, Oparanya highlighted that since the fund’s inception in late 2022, Ksh.56 billion has been disbursed to 24 million Kenyans. He also hinted at the upcoming launch of a Hustler Fund creative score aimed at making loan repayment more manageable.

“We’re finalizing the development of a national Hustler Fund creative score, which will soon be launched. This will change the collateral system in our economy, making credit more accessible to those at the bottom of the pyramid who lack conventional collateral like land or logbooks,” Oparanya stated.

Despite criticisms surrounding the management of the Hustler Fund, Oparanya remains optimistic. During a Parliamentary committee vetting session, he expressed confidence that with better oversight, the fund could be a powerful tool in the fight against poverty.