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The Standard e-Paper
Truth Without Fear
The Standard Group Plc is a
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Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Reports that 13 million individuals have defaulted on Hustler Fund loans totaling more than Sh7 billion are disturbing. The Hustler Fund was meant to accord ordinary citizens an easy access to credit at fairly lower interest rates and easier administrative strictures.
Loans are classified as non-performing or defaulted if the borrower has not made repayments of principal and or interest for at least 90 days. In the case for Hustler Fund loans, majority of the defaulters borrowed in the first and second months of the launch of the credit facility in November 2022.
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