Kenyans defaulting on Hustler Fund loans will be blocked from accessing loans from banks, according to a warning from the Ministry of Cooperatives and MSMEs. This measure aims to increase accountability and repayment rates for the fund, which has disbursed nearly Ksh70 billion to over 26 million Kenyans since 2022.

• Cooperatives Cabinet Secretary Wycliffe Oparanya stated that banks will now check Hustler Fund repayment status before approving new loans.
• A Kenya Human Rights Commission report indicated a 68.3 per cent default rate by the end of 2022; however, President William Ruto claimed an over 83 per cent repayment rate.
• Henry Tanui was recently appointed as the new Chief Executive Officer of the Hustler Fund to enhance its effectiveness and collection processes.