Hustler loan defaults take the shine off affordable credit initiatives
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Nairobi, Sept. 13 -- Loan defaults under the State-backed financial inclusion fund, popularly known as the Hustler Fund, have threatened to derail the government's commitment to cheap credit.
The Kenya Kwanza administration succeeded in initiating the Hustler Fund which has so far lent out in excess of Sh30 billion to individuals, micro, small and medium enterprises.
The fund was a key plank of the ruling coalition's manifesto and sought to pull borrowers from the jaws of high-interest rates and excessive credit terms.
"Provide financial and capacity building support for women-led-co-operative societies, chamas, merry-go-rounds and table banking initiatives and protect them from predatory interest rates charged by unscrupulous money le...
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