Oparanya: 2 million Kenyans promoted to borrow up to Ksh150K from Huslter Fund
Cooperatives & MSMEs Development Cabinet Secretary (CS) Wycliffe Oparanya has revealed that two million Kenyans have been promoted to access a loan limit of up to Ksh150,000 from the Hustler Fund kitty.
Speaking when he appeared before the Senate Plenary on Wednesday, May 14, 2025, the CS said that the two million Kenyans proved to be good borrowers.
“Out of the 20 million Kenyans who borrowed from Hustler Fund, 2 million have been promoted to access higher loan limits of up to Ksh150,000,” he stated.
While acknowledging the challenges the initiative faced since its launch, especially defaulting, he clarified that the Hustler Fund is not a government grant.
“When such initiatives come up after elections, members of the public think that they are being rewarded. That’s why we had so many defaulters when the fund started,” he said.
Responding to Nairobi Senator Edwin Sifuna who asked the CS of his earlier remarks when he said Hustler Fund is a government grant, he said he now thinks the Hustler Fund is a good initiative.
“I was only in the same boat with you, Senator Sifuna, when we were saying that this money will not be paid. I’m in a different boat now,” he clarified.
Defaulters
Further, the CS has urged Kenyans who borrowed from the Hustler Fund kitty to repay their loans.
“I’m saying that Kenyans who have borrowed this money to pay because I feel that this money is a good initiative that will help many Kenyans.”
He revealed that the government is working on an initiative to ensure the defaulters of the kitty repay their loans.
“We are working on a system to ensure this money is recovered so that many Kenyans benefit,” he added.
This comes months after President William Ruto announced that the four million Kenyans who have not repaid Hustler Funds loans have a chance of tripling their limit if they clear outstanding amounts.
Speaking at a Town Hall meeting at the Kenyatta International Convention Centre in Nairobi in December 2024, Ruto noted that the four million borrowers are those with outstanding amounts or have not repaid on time.
“If they pay their outstanding amounts, the window for them to be moved to the Bridge Loan, which doubles or triples their credit limit, exists. The four million people out there who have not paid their money have a chance,” Ruto said.
