Oparanya’s Ultimatum: Hustler Fund Loan Brokers on Notice, Must Repay or Face Consequences

 

By Bruno Aero

 

 Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs), Hon. Wycliffe Oparanya/PHOTO

In his inaugural address following his appointment, the new Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs), Hon. Wycliffe Oparanya, has issued a stern warning to all individuals who have defaulted on their Hustler Fund loans. Oparanya emphasized that all outstanding dues must be repaid without exception, setting a firm deadline for compliance.

Taking over the office from former CS Simon Chelugui, who was replaced amid widespread protests by the younger generation, Oparanya pledged to implement stringent measures to ensure prompt repayment of loans. The Hustler Fund, established to provide low-interest loans to small-scale entrepreneurs, has faced challenges with loan repayment, prompting Oparanya's decisive action.

"The Hustler Fund is a pivotal initiative that has the potential to significantly boost Kenya's economy by empowering small businesses and entrepreneurs across the country," CS Oparanya stated. "However, the success of this program hinges on the commitment of all beneficiaries to repay their loans. Failure to comply not only undermines the program’s objectives but also denies others the opportunity to benefit."

Oparanya also issued a clear warning to those who have exploited the Hustler Fund for personal gain, declaring that corrupt individuals are "on notice." He affirmed that his office will take decisive action to eradicate corruption within the Fund’s operations.

The replacement of former CS Simon Chelugui followed a wave of protests by the younger generation, commonly known as Gen Z, who demanded significant reforms within the Ruto administration. These protests led to the firing of the entire cabinet and the appointment of new leaders, including Oparanya.

In his new role, Oparanya’s hardline stance reflects a renewed focus on accountability and responsible management of public funds. The new CS emphasized that while the government remains committed to supporting the entrepreneurial spirit of Kenyans, financial discipline is essential for the sustainability of such initiatives.

"Let this serve as a clear message: We will not tolerate non-compliance. The ultimatum will be enforced, and all defaulters must repay their loans or face the consequences," Oparanya concluded.