“We are only 18 months; we haven’t reached there…” Cabinet Secretary Simon Chelugui at pains to explain why the Credit Reference Bureau (CRB) doesn’t have access to Hustler Fund data and information
it was designed to be looted by exaggerating the rate of defaulting, claiming it was way higher than it actually was and pocketing the funds then blaming the hustlers for bad debts.
I think the opposite. Question has been asked, answered, and reasked again. Causing a loop of simple concept that we understood when answered the first time.
Stop lying to people that the guys are from the village. The crb doesnt care about that. So long ás you are taking some money loan and its a credit lender. You should build your credit.This is a total failure in the system alot of money in this hustler fund. This is tax payers money how can he not get that
I own a credit company in kenya. The default rate is not 1%. Please check your facts. It's about 15% for solid banks. According to survey of 2022, digital borrower default at rate of 46.3 to 50.9% The most important question is that how much profit has the fund recorded. Clearly they have achieved a milestone given such a short time
...i don't know much about finance but a 1% default rate sounds like a bank/credit company's dream market.....which as has just been demonstrated by the recent Moodys credit downgrade , ain't Kenya.
My thinking too. In the US the small business administration (SBA) lends for as little as 3% which is way below what the banks charge. Much as I think it's good to be hard on the guy I think it's equally good to acknowledge where things are working. Hustler fund money can change things if the public learn to use it properly. It also injects money into circulation which is what drives the economy.
@samuelmwangi3977 In the US this makes sense. For a country that has such a high burden of debt and corruption such as Kenya it can't work. I know several people who've told me they took 500ksh loans and will not pay back. Imagine what that money could do in terms of medicine, education which are more of a priority?
Theres an old adage, "show me a mans friends and ill tell you what their character is." The fact that Ruto has surrounded himself with incompetent thieves is all i need to know about him.
Kenyan Banks provisions for bad loans reached 14% in 2024 meaning default rate is even higher. Digital lending Apps is as high as 40%. The 1% is only for Fuliza
What were the qualifications for this guy to get this position . Does he know what he's talking about at all. Yvonne, excellent question to a person who has no idea and can't even seem to comprehend what you are asking. This is sad😢
This is why Kenya us an example in Africa. The way the CS us answering is great. This is what the Genz wanted to assimilate those that are not included. He is also so calm because the interviewer also was trying to pull him down. To the interviewer she is a real competent and knows her data kudos to her. These are the genzs we want. Competence and forcefulness. The Genz should be happy with the CS and government. The CS has repeated over and over low rates for have nots
In my opinion the CS was ill informed or not sure about this concept of Hustler Fund. Throughout the conversation he was not clear and elaborate. He was continually cornered and couldn't explain himself out of the precarious situation. In fact the more he tried to explain the more he counterattacked himself. I guess he was not sure about what he was talking about.
Remember this fund was issued the 1st month after taking over the government, remember well,they found "empty' coffers and still went ahead to offer over 3b loans?
Can someone encourage President Ruto to watch this interview so that he can be more careful when selecting the next cabinet ministers... This is very painful to watch...
Who can make a summary of what this gentleman is trying to say? Maybe in max two words. I only heard something has gone Rock😳😭😭😭. Who is he in the first place?
Listening at minute 18 and Evon(spl) still pushing soo hard on a very useless question while theres soo much to ask!!!!.... What she trying to get out with CRB listing and records????
This guy is a joke and should be arrested,he is saying that Kenyans money it's like a personal project of selling water .This proves that Kenyans money is personal 😢😢😮
A Scheme to Defraud Tax Payer we saw it coming From the Beginning. It’s a shame Stealing from the lowest people in our society who need help the Most. Nchi ya Kitu Kidogo 😢😢
Vyonne at times u need to wait for anyone to answer yr Question.I saw this is a problem with few citizen anchors.They lack decorum?U ask a guy give someone time to answer without interrupting
Why waste time interviewing such? Please invite the likes of Omtata & Sifuna to plot the way forward after the inevitable downfall of this spectacularly self sabotaging govt!
Ask the waziri what happened to the automatic fines using cameras .They would bring a lot of sanity on our roads and reduce corruption in the transport sector.
