13 Millon well-to-do borrowers went for the loans in the first few months of launch and never paid back.
Only 2 Millon borrowers borrow and repay as required.
Government intends to recover your defaults from MPESA and airtime balances
Just like digital lenders it criticized for nagging borrowers, it has resorted to sending "nagging" SMS reminders amid huge losses in Hustler Fund default, a President William Ruto 2022 campaign pledge.
It is easy to recover the cash "lost" since 98% of borrowers still use their unique identifiable numbers, mobile phone lines and their National IDs are known for tracking them down in the recovery process
About 2-3% of borrowers died. There is no recovery option for them.
A parliamentary report shows that the Hustler Fund was rolled out without insurance opening a huge loophole for pilferage or taxpayers' money
MWINGI TIMES for timely and authoritative news.
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