Azimio MPs call on supporters to default Hustler Fund loans
A section of members of the Azimio la Umoja one Kenya Coalition has urged their supporters not to repay their Hustler Fund loans.
During the first ‘consultative meeting’ on Wednesday, December 7, Azimio Parliamentarians claimed the money belongs to Kenyans.
While urging Azimio supporters to default on their debts, Kasipul MP Ongondo Were admitted that he, too, had taken out a loan and does not intend to repay it.
“The government money you have borrowed, even me I have borrowed we are not paying it back,” he said.
Suna East MP Peter Masara on the other hand said, “All those who have received the Hustler Fund money continue using it because it is your tax.”
The legislators said it is only fair that the money given is used to buy basic commodities whose rising prices the government has failed to tame.
“These people are disrespectful that is why we are saying we are not repaying that KES 500 of Hustler Fund. They already owe us for unga, fuel, and sugar,” said Senator Moses Kajwang.
The legislators’ call not to repay the fund was met with jubilation from the crowd on the ground.
The gathering brought together Azimio principals Raila Odinga, Martha Karua, and Kalonzo Musyoka alongside the coalition legislators and other leaders.
Former CS Eugene Wamalwa and former Kakamega Governor Wilfred Oparanya were also present at the meeting.
Earlier in the day, President William Ruto urged Kenyan to pay their hustler fund loans on time in order to increase their loan limits.
The head of state said the faster one pays the debt, the higher their chance of increasing loan limit.
“I urge Kenyans to pay their debts in order to increase their limit,” Ruto said.
The President boasted that around 13 million people have enrolled for the funds as of December 7, 2022.
Borrowers were warned against defaulting during the launch last week, and the State issued rigorous steps to prevent it.
Those who fail on their debts will see their interest rates rise from 8% to 9.5%.
If a consumer does not pay their debts on time, they will be given an extra 15 days before the interest rate increases.
Borrowers who default will have their Hustler Fund accounts blocked as well.
“After more than 30 days of default, the borrower loses all the credit scores accumulated and the Hustler Fund account is frozen,” he said.
Loan defaulters, according to Ruto, will not be listed on CRBs because they will have another opportunity to reborrow.
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