On February 3, 2023, President William Ruto informed Kenyans that 800,000 people who had borrowed the Hustler Fund loan had defaulted the loan.
According to His Excellency William Ruto, the president of Kenya, those who have not made loan payments are behind schedule in making them.
According to information provided by president William Ruto, 18 million Kenyans have registered for the Hustler Fund so far.
According to the source, Kenya’s president has warned all those who intend to default on their loans that he will impose strict measures to prevent them from doing so.
It is also bad news for those who have defaulted on their loans, as the president has stated that their interest rates will rise from 8% to 9.5%, and their accounts will be frozen if they continue to default.
Therefore if you have a loan in the Hustler Fund and you default on it, your account may be frozen.
“Borrowers who default will have their Hustler Fund account frozen.” The Star Kenya posted on their official verified Facebook page.