Hustler Fund Chief Executive Officer Henry Tanui has emphasized that the government will pursue loan recoveries through borrower identification and public sensitisation rather than punitive measures. Speaking on the programme’s repayment framework, Tanui insisted that recoveries will be made for all borrowers except those who have died.
“Except for those who have passed on, we will collect the money,” Tanui said.
Loan Recovery Strategy
Tanui explained that the facility is tied to the borrower’s national ID, regardless of the SIM card used, making it possible to trace defaulters.
“The young people who borrowed and thought they can disappear, they can’t because their IDs are linked to the loans,” he noted.
He stressed that the fund is determined to recover loans but will not resort to harsh tactics. Responding to a question by North Imenti MP Rahim Dawood on whether defaulters would face arrest, Tanui clarified that the fund would not behave like shylocks.
“We will not behave like shylocks. We will not come to pick your items if you default,” he said, adding that sensitisation on the importance of repayment will be prioritized.
Performance of the Fund
Tanui reported that as of Wednesday:
- Ksh83 billion had been borrowed.
- Ksh71 billion had been repaid.
- Ksh5.3 billion had been saved.
- The default rate currently stands at 15 per cent.
He also revealed that Nairobi leads in the number of borrowers, followed by Kiambu County.
A Shift in Debt Recovery Approach
The CEO’s remarks highlight a deliberate shift in debt recovery philosophy, focusing on accountability and financial literacy rather than punitive enforcement. By linking loans to national IDs, the fund aims to ensure transparency and traceability, while sensitisation campaigns are expected to encourage repayment without instilling fear among borrowers.
