Hustler Fund: Nyeri, Kiambu Counties Lead in Loan Repayment

Nyeri County takes the lead in the list for the highest repayment of loans from the Hustler Fund, Co-operatives and MSME Development Cabinet Secretary Simon Chelugui has said.

Nyeri leads the way with a remarkable 76.3 percent loan repayment out of the total Sh21.2 billion repaid loans, closely followed by Kiambu at 75.3 percent. Nyandarua secures the third spot with 74.5 percent repayment rate.

Nairobi county, which boasts the highest number of subscribers( 2 million) is ranked fourth with a repayment rate of 73.8 per cent.

Joining the ranks of the top 10 counties are Laikipia with a repayment rate of 73.6 percent, closely followed by Nandi at 73.5 percent, Muranga at 73.3 percent, Embu at 73.1 percent, Uasin Gishu also at 73.1 percent, and Nakuru at 72.9 percent.

On a national scale, the overall loan repayment rate stands at 69 percent.

CS Chelugui also noted that the majority of borrowers are men.

“More men borrow Hustler Fund compared to women at 66 per cent and 34 per cent respectively while in terms of age, the youth who fall between 18-29 years leads the chart of borrowers with 38.5 per cent,” said Cheluguyi.

“Those between 30-39 follows at 28.8 per cent and those between 40-49 per cent have so far recorded a 17.5 per cent borrowing rate.”

CS Chelugui said the numbers are impressive as they contribute to the government’s objective of fostering a saving culture through the Hustler fund.

Out of the total amount disbursed, which amounts to Sh31.5 billion, a substantial sum of Sh1.5 billion has already been saved.

Moreover, the ministry has successfully disbursed Sh20 million to more than 170,360 groups, the CS said.

Nairobi County leads with the highest number of registered groups, 10,957, followed by Trans Nzoia which boasts 9,792 groups and in third position is Meru County with 9,647 groups.

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