Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya has called on Kenyans who borrowed from the Hustler Fund to repay their loans, terming the fund a transformative initiative.
Appearing before the Senate plenary on Wednesday, May 14, 2025, Oparanya emphasized the fund’s importance, saying it has the potential to uplift millions of Kenyans economically.
“I’m saying that Kenyans who have borrowed this money should pay because I feel that this money is a good initiative that will help many Kenyans,” Oparanya said.
Responding to Nairobi Senator Edwin Sifuna’s inquiry about his earlier remarks that the Hustler Fund was a government grant, the CS clarified that his position had since changed.
“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 stated.
Oparanya acknowledged that the fund faced challenges, particularly widespread defaults, due to public perception following the 2022 General Election.
“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.
He dismissed claims that the fund was a grant and revealed that the government is implementing measures to recover loans from defaulters to ensure the sustainability of the program.
“We are working on a system to ensure this money is recovered so that many Kenyans benefit,” he added.
Oparanya further disclosed that of the 20 million borrowers, two million have been promoted to a higher credit limit due to consistent repayment.
“We have introduced a bridging loan of up to Ksh150,000 for the two million people who have proven to be good borrowers,” he said.
His remarks come months after President William Ruto, during a December 2024 town hall at the Kenyatta International Convention Centre, urged defaulters to clear their outstanding amounts to qualify for higher limits.
“The four million people out there who have not paid their money have a chance. 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,” Ruto said.
The Bridge Loan product targets borrowers who have demonstrated discipline in loan repayment.
