MPs give Hustler Fund 14 days to reveal names of loan defaulters
Hustler Fund Chief Executive Officer Henry Tanui, appearing before the National Assembly’s Special Funds Accounts Committee, told MPs that the fund has disbursed Sh83 billion in loans since its launch. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Members of Parliament have given the Financial Inclusion Fund (Hustler Fund) 14 days to publicly disclose the names of loan defaulters due to increasing concerns over unpaid loans.
- Sh12.5 billion remains unpaid, reflecting a 15 percent default rate.
- MPs are questioning the fund's sustainability and potential system abuse.
- The Hustler Fund, launched in November 2022, aims to provide affordable credit to Kenyans at the bottom of the economic pyramid.
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Treasury Wavers on Deposit Guarantee as Banks Pursue Debt Recovery - March 2026
The National Treasury is reportedly hesitant to approve an increase in the bank deposit guarantee from the current Sh500,000 to Sh1 million per customer, causing uncertainty for depositors. Members of Parliament have given the Financial Inclusion Fund (Hustler Fund) 14 days to publicly disclose the names of loan defaulters due to increasing concerns over unpaid loans. Separately, Standard Chartered Bank is set to auction assets of the collapsed retail chain Nakumatt Holdings after the firm defaulted on loans exceeding Sh1.6 billion.
