Details are now out concerning the defaulted hustler fund amount. According to blogger and political analyst Gabriel Oguda, Kenyans have not returned over Ksh. 10 billion borrowed from the hustler fund.
“The value of Hustler Fund defaults now stand at Ksh10 billion, a default rate higher than any other bank, Sacco, or microfinance institution, the National Treasury has stated” Oguda posted.
This information, according to him, is from the National Treasury statistics. Hustler Fund is now the leading defaulted financial institution in Kenya.
The Kenya Kwanza faction rode on the promise of the Hustler Fund as a way to uplift businesses of Kenyans by offering quick loans. This was actualized when William Ruto himself launched the program and Kenyans quickly started borrowing.
However, it is now clear that many of the Hustler Fund beneficiaries have not been faithful enough to repay their loans in time making the program to incur significant losses.