Hustler Fund clients must repay loan: Ruto

President William Ruto issues a title deed at Kabartojo in Baringo County on August 24, 2023. [PCS]

President William Ruto has warned Hustler Fund borrowers that they must repay all the money borrowed.

President Ruto, who was speaking Thursday during the issuance of 1,900 title deeds in Rongai, Nakuru County, said over 878,000 Nakuru residents had borrowed more than Sh2 billion from the fund.

He said that 77 per cent of borrowers had repaid the loan, while 23 per cent had defaulted.

“The government will ensure every borrower repays the loan. No one will escape or default on the repayment,” Ruto said.

The president noted that over seven million individuals have been removed from credit reference bureaus after defaulting on loan repayments.

He warned that those with Hustler Fund arrears would not qualify for Sh10 billion set aside by the government to support businesses.

Ruto said that the issuance of title deeds to Lemolo and Majani Mingi residents marked the first step in reviving the economy, and that government reforms would kick off soon.

He promised to return in December to issue title deeds to residents of Banita settlement scheme.

Additionally, plans are underway to construct three land registries in Mogotio, Molo, and Gilgil sub-counties to alleviate congestion in the Nakuru offices.

Regarding milk pricing, Ruto said the government plans to regulate prices to a minimum of Sh50 per litre.

“We cannot have a situation where the price of milk is below the price of water. We must ensure milk farmers also get something to support their families,” he said, adding that farmers will be discouraged from selling their milk at throwaway prices.

In response to allegations of corruption in government agencies and ministries during recruitment, he said that defeating corruption needed goodwill from all parties.

“It takes two people to win the war on corruption - the giver and the taker. When you as an individual sell your land, what are you going to buy?” he said.

He urged parents not to encourage corruption by bribing government officials and warned that those involved in graft would either have to leave the country or face imprisonment.

Deputy President Rigathi Gachagua said that the government had overcome opposition resistance and was prepared to serve the people.

He promised that the elderly would continue to receive a monthly stipend of Sh2,000 and urged chiefs to register individuals above 70 years old in the Inua Jamii Programme.

Mr Gachagua advised MPs to distribute bursaries fairly, reminding them that their authority comes from voters.

Lands, Public Works, Housing and Urban Development Cabinet Secretary Zachariah Njeru said that all eligible landowners would receive title deeds.

He assured those in the settlement scheme that the government had not forgotten them.

“We are committed to settling residents and giving them a chance to build houses and develop on their properties without fear of eviction,” he said.

Nakuru Governor Susan Kihika said the issue of pending title deeds had been resolved and that the Banita scheme was in the pipeline.

She said the county was also working to address a pressing water problem in Rongai, Kuresoi, Bahati, and Nakuru West.